Alt A Home loans

Alt A / Sub-Prime
Alt A – Sub-Prime (also known B-paper, near prime, or second chance lending) is the practice of making loans to borrowers who do not qualify for the best interest rates because of their deficient credit history and are designed for borrowers that do not meet the requirements of Fannie Mae and Freddie Mac guidelines.This word first came into prominence in 2007 with the global subprime mortgage meltdown.  The prefix “sub” translates roughly to “below the standard,” while “prime” means something close to “the best.”The Patterson Company Real Estate Lending though limited does have lender options for this type of home financing.