Secured loan advantages Alabama

Attention! Advertisements are for informational purposes only, they help to choose a financial organization / service. It is not an offer. The site administration is not responsible for the quality of services in the ads.

Calculation example: with a loan amount of USD 100,000 at 10% per annum, for a period of 1 year, the total amount to be repaid will be equal to: USD 105,499.06, with a monthly payment: USD 8791.59. The consequences of not paying the loan are regulated by the legislation of USA.

    Secured loan

    The lender is more willing to provide a loan on favorable terms if the loan is secured by collateral. Often the collateral is the borrower's property.

    For a lender, collateral is a guarantee that the organization will not incur losses if the client does not pay the debt. For the borrower, collateral is a motivation to repay the loan and interest on it in full, so as not to lose the collateral.

    Having collateral but no proof of income can improve your chances of getting a loan.