Secured Loans

Family sitting on the front steps of their new home

A secured loan is usually requested when borrowing money to fund a large purchase. A secured loan is contingent upon the borrower providing "collateral" to secure and ensure repayment. For example, a secured loan involves purchasing a car or a house. In the case of a car loan, you are using the auto as your collateral for the loan, or if you are buying a boat or a camper, those items are the collateral used to secure the loan. Secured loans are generally offered at lower rates, with flexible and longer repayment terms.

Examples of Secured Loans:

  • Auto Loan (New, Used, and Refinanced)
  • Home Equity Loan (these have a set loan amount for a specific term or repayment)
  • Home Equity Line of Credit (these have a maximum credit limit with varying repayment terms)
  • Boat Loan
  • Recreational Vehicle Loan
  • Home Improvement Loan

 Apply Now for a secured loan