The Real Estate Encyclopedia
sub-prime
Category - Real Estate Glossary - Real Estate Terminology

Sub-prime loans and sub-prime borrowers both refere to loans for and borrower that has less than ideal credit score ratings. Ideal or prime credit score ratings are those credit score rating that can get loans without any penalty or added percentage points. 

The actual credit score number can vary from 680 - 720 - 740, depending on the state of the market. Investors change these floors depending on their own criteria.

Usually borrowers with sub-prime credit have a less than prime credit score because of late payments, defaults and / or collections.

 
Category(s)
Real Estate Glossary - Real Estate Terminology
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