Introduction: What Are Secured Loans?
A secured loans are a type of loan that requires collateral—an asset the borrower offers to the lender as security for the loan. Common examples include mortgages (secured by the home) and auto loans (secured by the vehicle). Since the loan is backed by an asset, secured loans often come with lower interest rates compared to unsecured loans, making them an attractive option for many borrowers.
Types of Secured Loans
There are several types of secured loans, each designed to meet specific financial needs:
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
