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2. What is a subprime mortgage? - AOL

   www.aol.com/finance/subprime-mortgage-175324178.html

   The difference is that subprime fixed-rate mortgages sometimes have longer terms, such as 40 years, compared to the typical 15 or 30 years for a conventional fixed-rate loan. Subprime adjustable ...

3. Pros and cons of an adjustable-rate mortgage (ARM) - AOL

   www.aol.com/finance/pros-cons-adjustable-rate...

   15-year fixed-rate mortgage: If it’s the interest rate you’re worried about, consider a 15-year fixed-rate loan. It generally carries a lower rate than its 30-year counterpart.

4. 1 in 4 First-Time Home Buyers Today Are Considering an ... - AOL

   www.aol.com/1-4-first-time-home-100015239.html

   Here are a couple of pros and cons to be aware of if an adjustable-rate mortgage is on your radar. Pro No. 1: You can get a lower starting interest rate The average 30-year mortgage rate as of ...

5. Adjustable-rate mortgages: What they are and how they work - AOL

   www.aol.com/finance/adjustable-rate-mortgages...

   5/6 and 5/1 ARMs: 5/6 and 5/1 ARMs offer a fixed intro rate for the first five years of the mortgage, then switch to an adjustable rate for the remaining 25 years. 5/6 ARMs adjust every six months ...

6. Subprime lending - Wikipedia

   en.wikipedia.org/wiki/Subprime_lending

   Under a typical subprime mortgage made during the housing boom, a $500,000 loan at a 5.5% interest rate for 30 years results in a monthly principal and interest payment of approximately $2,839.43. In contrast, the same loan at 8.5%, under a typical 3% adjustment cap for 27 years (after the adjustable period ends), results in a payment of about ...

7. Alt-A - Wikipedia

   en.wikipedia.org/wiki/Alt-A

   Alt-A interest rates, which are determined by credit risk, therefore tend to be between those of prime and subprime home loans, although there is no single accepted definition of Alt-A. [2] Typically Alt-A mortgages are characterized by borrowers with less than full documentation, average credit scores, higher loan-to-values, and more ...