Timothy, a staff member at a university, wants to purchase a house. As he does not have sufficient funds, he is forced to take a loan. Given his low credit score, it is highly unlikely that he will be able to repay the borrowed money. In this scenario, Timothy should apply for a(n) _____.
A)subsidized loan
B)subprime mortgage loan
C)endowment mortgage loan
D)concessional loan

Question

Quizplus · Accepted Answer

A subprime mortgage loan is typically offered to individuals with low credit scores who may not qualify for conventional loans.

Timothy, a Staff Member at a University, Wants to Purchase