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I think subprime just means you just get offered a higher mortgage rate. You still have all the documentation mandates. No more NINA or NINJA[1] loans. [1] htt

• jrumbut 4y ago
  The amounts that mortgage originators will hand out are still pretty incredible. I bought a house a few months ago. The mortgage payment is right around what the more conservative rules of thumb suggest is affordable. After the lender had all my information I asked, out of curiosity, what was the maximum they'd lend me. They came back with a number that was more than triple what I ended up borrowing and suggested there was room to go higher if that was something I was interested in. Perhaps subprime borrowers face lower limits but it's still possible to take a risk stretching your budget to buy a house. That may be OK or even good but I'm concerned the perception is that lenders won't approve a mortgage that will be very difficult to keep up with when they absolutely will.
• imtringued 4y ago
  I got 0% financing (first x months) on my kitchen. They checked absolutely nothing on a 5k€ purchase.