 TITLE: What Is a Subprime Mortgage? CONTENT: Should You Get a Subprime Mortgage?\n-----------------------------------\nAs the name implies, a subprime mortgage is less than ideal. That's not to say there aren't reasonable justifications to get one, such as to buy a home that's a rare bargain you don't want to let slip away. If you're on the path to rebuilding your credit and you're confident you can afford the payments, you may be right in taking out a subprime loan.\nIf you do, and you plan to stay in the house for more than a decade or so, consider refinancing your subprime mortgage five or 10 years in the future. By then, your income and credit profile may have changed in ways that make a more affordable conventional mortgage an option. Before doing so, review the numbers carefully (including the fees as well as the interest rates on a new mortgage) to make sure refinancing saves you money, but if you're able to swap a subprime loan for a conventional one, there's a good chance it will pay off. END