It is true Sub-prime loans indeed benefited customers qualify for expensive homes that would not otherwise have qualified for.
A subprime loan is offered to people at an interest rate above prime, who do not allow for traditional loans. Such people have low income, limited credit history, and poor collateral. The subprime choice is common in many types of loans, like auto loans and personal loans. In these loans, the creditors focus on the repayment potential of the borrowers rather than their credit score.
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