Loans
This page provides links, information and resources on a variety of loans and loan types. A loan is a debt that must be repaid according to certain terms agreed upon at the time of accepting the loan money. When negotiating terms, it is important to get the lowest interest rates you can, so as to minimize your monthly repayment.
Why Take Out a Loan?
When we need money to purchase goods and services, many times we rely on a loan from a bank or other type of lender. Loans allow many people to purchase items that they could never afford to pay cash for, such as, a new car, your home, a boat and many other consumer item purchases.
It is important to not borrow more than you can afford to pay back in a timely manner.
Types of Loans
References
Fast Facts
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Fact:
A type of debt that must be repaid.
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Fact:
An interest expense must usually be paid upon repayment of the loan
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Fact:
A loan is enforced by a contract between you and the financial institution granting the loan
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Fact:
Loans come in many forms.
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Fact:
There are many different types of loans.
