Subprime Borrower


Definition of "Sub-Prime Borrower"

A borrower who does not meet the underwriting requirements of mainstream lenders. Sub-prime borrowers pay more than prime borrowers and are sometimes taken advantage of.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Insurability

Circumstance in which an insurance company can issue life or health insurance to an applicant based ...

Superseded Suretyship Rider

Endorsement to a fidelity bond or surety bond to cover losses that occurred after lapse of the disco ...

Jacket

Outer covering containing an insurance policy; in many instances it lists provisions common to sever ...

Offer

Application for a policy, in life insurance, accompanied by the first premium; in property and casua ...

Residential Unit

property suitable for residential living, such as a house, duplex, apartment, mobile home, or condo ...

After-completion Costs

Expenditures incurred subsequent to the building of a structure. ...

Related Real Estate FAQ

What Is A Mortgagor?

A mortgagor is the borrower. ...

What Is A Commitment Letter?

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you ...

What Is An Appreciation?

Changes in the market conditions, or improvements to the property that increase the value of the pro ...

What Is Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

What Are The Benefits Of Liability Insurance?

General Liability Coverage includes: Bodily Injury Liability Coverage: Help protect you in case ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What Must I Disclose When Selling My Home? Mortgage Loan Types What is Escrow and how does it Work? Foreclosure - The Pros and Cons of Buying How Does The Home Loan Underwriting Process Work?

FAQ

What is a housing ratio? Besides making my monthly mortgage payment, how can I build equity into my house? How Much Can I Afford ? What is a buyer’s agent? What is a subdivision?