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Asub-prime mortgage refers to a type of loan that is normally made to borrowers who do not qualify for market interest rates,often due to a variety of risk factors,such as their income level,size of the down pay-ment,credit history,or employment status.As a result of the borrower's low credit rating,a conventional mortgage cannot beoffered because the lender views the bor-rower as having a greater-than-average risk of defaulting on the loan.