Sub Prime Mortgage Lender

A sub prime mortgage lender specializes in offering loan programs for those with less than perfect credit history. The sub prime mortgage is written at a higher interest rate than ordinary mortgages. Because of their high costs, a sub prime loan helps establish or re-establish a good credit history. Earlier it was very difficult for people with bad credit to get a mortgage. People with bad credit had to qualify for a government-backed loan or a conventional loan. A sub prime mortgage lender helped credit impaired borrowers to obtain a mortgage. A sub prime mortgage is for a short period when compared to other programs. To qualify for a sub prime mortgage, a significant deposit amount towards the home is expected.