subprime

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adjective sub·prime \ˈsəb-ˌprīm\

Definition of subprime

  1. 1 :  having or being an interest rate that is higher than a prime rate and is extended chiefly to a borrower who has a poor credit rating or is judged to be a potentially high risk for default (as due to low income) <subprime mortgages> <a subprime loan>

  2. 2 :  extending or obtaining a subprime loan <subprime lenders> <subprime borrowers>

1995

First Known Use of subprime

1995


Law Dictionary

subprime

play
adjective sub·prime \ˈsəb-ˌprīm\

Legal Definition of subprime

  1. 1 :  having or being an interest rate that is higher than a prime rate and is extended especially to low-income borrowers <subprime mortgages>

  2. 2 :  extending or obtaining a subprime loan <subprime lenders> <subprime borrowers>



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