What is a sub-prime mortgage?
A) It is a mortgage loan which carries an interest rate below the prime lending rate.
B) It is a loan made to a homeowner by an insolvent lender.
C) It is a mortgage loan made to a buyer whose credit or income would not ordinarily qualify for a mortgage loan.
D) It is a mortgage loan made to a buyer whose outstanding credit score earns the buyer a preferential interest rate.
Correct Answer:
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