"A Paper" Mortgage - The Bills.com Blog

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"A Paper" Mortgage

Question: 1) What is vintage basis?
2) What is the difference between subprime vs non-traditional mortgage?
3)"A paper" vs subprime?
4)Retail vs wholesale mortgage?

Answer: Thank you for visiting Bills.com. Here are an answers to your mortgage questions!

1. Vintage basis typically refers to the year in which a mortgage loan was originated.

2. Subprime (also known as "non-prime" or "BandC") refers to loans for borrowers who have had blemishes on their creditin the past. "A paper" is another name for a prime loan, and very broadyly refers to borrowers with higher FICO scores. Subprime loans will carry a higher interest rate than a prime loan. The best thing to do is to apply with several lenders and see what rate you are quoted for each product. Be sure to compare "apples-to-apples" as there are many

different types and options when it comes to home loans.

3. Think of retail as the point of sale, and wholesale as the middleman. Retail actually refers to the broker (or the person who originates your loan) and Wholesale is the lender who actually funds your loan.

Bills.com makes it easy to compare

options , but be sure to only select a loan that meets your needs.

If you would like more information, please visit our mortgage resource page .

I hope the information provided helps you Find. Learn. Save.

Best,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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