6 ms·
These are almost the opposite of sub-prime mortgages. A sub-prime mortgage is made at market rate--at an unaffordably high rate as a result of the risk. These
by idontpost 8y ago
These are almost the opposite of sub-prime mortgages.
A sub-prime mortgage is made at market rate--at an unaffordably high rate as a result of the risk. These are below-market rate loans -- loans at affordable rates for the borrower in spite of the risk. The in-spite part is what makes this philanthropic.