Mortgages Analyzed
Mortgages Analyzed
Mortgages Analyzed
 
Alt A Loan

What is Alt A Loan?

Definition
Alt-A Loan is a mortgage loan that carry more default risk than an prime loan and is targeted at borrowers having less than perfect credit.
What It Means
The credit score of borrowers usually range between 620 and 720. Other features of the loan that increase the risk are 100% financing, non-owner occupied properties, limited or no verification of income, assets, or employment. Alt-A Loan is short for Alternative to A-Paper Loan.
Other Names
Alternative A-Paper Loan
Category
Product

Related Terms

  • Prime Loan: A mortgage loan offered to the most creditworthy borrowers and usually has strict underwriting guidelines.... Read More
  • Subprime Loan: Subprime loan is a mortgage loan that is offered to borrowers with significant default risk.... Read More
  • Non-Prime Loan: Non-Prime Loan is a loan that is not a prime loan and includes subprime loan and Alt-A loan.... Read More
Source :www.MortgagesAnalyzed.com

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