By secta finance | 1 year ago
A secured loan is a type of loan in which the borrower pledges an asset (often their home) as security for the repayment of a loan. This type of loan are much less risky for lenders, so lenders are generally more willing to make larger loans at much lower interest rates and over longer terms than they would with unsecured loans. A mortgage is the most common form of secured loan.
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