The Unique Real Estate Blog

What is a Subprime Mortgage?

While the word ‘prime’ normally refers to the base interest rate charged by major lenders across the country, a subprime mortgage refers to a home loan offered to a borrower that is higher risk than normal, not a lower interest rate.

One of the more important questions many homeowners need to ask themselves when considering refinancing their mortgage is, should I do this now or wait? This dilemma often energizes the homeowner to research mortgage refinancing further or it makes them lean towards delaying it for the moment and concentrate on other areas of their finances.