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    Sub prime or non prime mortgage loans are loans that are given to individuals that have a FICO score that is under 620. These loans come with added risk for the lender as individuals that have this low of a score are more likely to default on the loan. Therefore, sub prime loans have a much higher interest rate than those with a better credit score. Yet, for those that are looking to purchase a home, these loans can afford them the ability to do so.

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    Because mortgage lo

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    ore are more likely to default on the loan. Therefore, sub prime loans have a much higher interest rate than those with a better credit score. Yet, for those that are looking to purchase a home, these loans can afford them the ability to do so.

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    than those with a better credit score. Yet, for those that are looking to purchase a home, these loans can afford them the ability to do so.

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    What Does It Take To Qualify?

    Because mortgage loans are secured loans to the value of the house that they are associated with, you can still qualify to purchase these homes if you can meet some basic qualifications. All lenders are different but some things that will be looked at include the following:

    • Do you have steady, verifiable income that shows that you can afford to make a mortgage payment as well as make all current debts that you owe?
    • Is yo

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