Subprime loans are offered at higher interest rates to individuals with lower credit scores, making them more expensive. Financial advisors suggest buying only if necessary, as interest rates can vary between lenders. Tougher criteria for subprime loans have led to fewer home sales and a stagnant real estate market. The term subprime loan is somewhat […]

Subprime loans have interest rates higher than prime rates due to the borrower’s low credit rating. Financial advisors suggest shopping for subprime loans as rates and criteria vary. Some advise against subprime loans due to high interest rates, but they may be necessary in certain situations. The decline in home values in 2006 and 2007 […]