Anyone heard of this?

Hi all,
I was planning to purchase a new condo with the help of a mortgage. But, since I had a credit score below the required score, my loan was rejected by the banks. I really didn’t know what to do, and I thought was impossible to get a mortgage, and my dream to buy a home was getting shattered. That is when I heard of Subprime mortgage. I read about it here, http://www.privatelend.com/pri...sub-prime-mortgages/ . A subprime mortgage is a loan that is reserved for people with poor credit that have been turned down by their bank/mortgage broker. What would be the required down payment for this? Did anyone hear of such mortgages? Please help.

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