Real Estate Glossary | What is Secured Loan??

Q: What is Secured Loan?

A secured loan is a type of loan in which the borrower puts up some form of collateral, such as a house or car, in order to secure the loan. This means that if the borrower is unable to repay the loan, the lender can take possession of the collateral. Secured loans typically have lower interest rates than unsecured loans, as the lender is taking on less risk.

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