A Look at Common Types of Loans
There are many common types of loans that may fall into the same categories, as well as some common types of loans that are only different in one or two small ways.
Below are the descriptions for several common types of loans, including some of the factors that may restrict who is eligible for the loan and how much interest different individuals might have to pay for the loan.
Of course, this doesn't cover all of the loans that are offeredÂ… only the loans that you are most likely to encounter.
Secured and Unsecured Loans
Most if not all common types of loans fall into one of two categoriesÂ… secured loans and unsecured loans.
Secured loans are those loans that use some object of value,...
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