All > Business > Finance > Personal Finance > Mortgage

• A classification of mortgages with a higher perceived risk of default than prime and Alt-A loans. Interest rates on subprime mortgage loans are often higher, reflecting the greater risk.

  Federal Housing Finance Agency, Office of Inspector General - Cite This Source - This Definition
  ×

  Cite Definition for Subprime Mortgages

  American Psychological Association (APA)

  Subprime Mortgages. (n.d.). Federal Housing Finance Agency Glossary of Terms. Retrieved June 2, 2023, from website: http://www.expertglossary.com/definition/subprime-mortgages.

  Chicago Manual of Style (CMS)

  Subprime Mortgages. fhfaoig.gov. Federal Housing Finance Agency Glossary of Terms. Federal Housing Finance Agency, Office of Inspector General. http://www.expertglossary.com/definition/subprime-mortgages (accessed: June 2, 2023).

  Modern Language Association (MLA)

  "Subprime Mortgages." Federal Housing Finance Agency Glossary of Terms. Federal Housing Finance Agency, Office of Inspector General. 2 June. 2023 http://www.expertglossary.com/definition/subprime-mortgages.

• Browse Related Terms: "Bait-and-switch" schemes, Alt-A Mortgages, Balloon Payment, cash-out refinancing, Collections, Delinquency, Home improvement scams, Loan flip, Loan modification, Mortgage Modification, Prepayment penalty, Prime, Prime Mortgages, Refinance, Subprime, Subprime Mortgages