Mortgages Analyzed
Mortgages Analyzed
Mortgages Analyzed
 
Prime Loan

What is Prime Loan?

Definition
A mortgage loan offered to the most creditworthy borrowers and usually has strict underwriting guidelines.
What It Means
The high creditworthiness of the borrower is demonstrated by high credit score, stable income, stable employment, and other risk mitigating factors. These loans generally do not allow 100% financing and are within the conforming loan limits. The strict underwriting guidelines require the borrowers to verify their assets, income, and employment.
Other Names
A Paper Loan
Category
Product

Related Terms

  • Alt A Loan: 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.... 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
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