Frequently Asked Questions about Sub-prime

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AskEdith.com Real Estate Sub-prime FAQ
It's Up to 11.8% A prime example of a sub-prime loan. The borrow has poor credit, didn't understand their loan's interest rate was adjustable, and is now struggling to deal with higher payments than expected. In Over Her Head Question: How does a single mother with an annual income of $21,000 afford a $3,585.21 monthly mortgage payment? Answer: She doesn't. $3,000 per Month Income If your monthly income is $3,000, you probably can't afford a monthly mortgage payment of $2,300.

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AskEdith.com Real Estate Sub-prime FAQ