Subprime lenders usually accept lower scores, as well as online lenders.
For example, there are conditions relating to the acceptable bad credit scores - normally, a score of 600 is the lowest, though
subprime lenders usually accept 560 for their 80 - 20 mortgages.
Not exact matches
Usually it's a combination of the two ** We will likely see a bucking of the trend of increased delinquencies in
subprime auto ABS pools; tightening of underwriting standards will help auto
lenders keep their funding costs lower * If there's a large macro event or shock, such as unemployment rates rising, there will actually be a much bigger impact to prime auto bonds rather than
subprime.
FICO ® Scores (the credit - risk scoring system
lenders use) of 620 or lower will
usually place you in the «
subprime» category where you may receive loans quoted with significantly higher interest rates and may be offered fewer varieties of loans.