The Different Types of Loans , EXPLAINED

Loans are an important part of your financial life and there are many different types to choose from.

There are a variety of loans available to homeowners, including mortgages, home equity loans, and second mortgages.

The amount of the mortgage will usually be based on the value of the home and the homeowner’s credit score.


Home equity loans are also common.

Unlike other types of loans, second mortgages are not usually based on credit scores or the value of a homeowner’s home.

Loan against property (LAP)

A Loan Against Property (LAP) is a type of loan that allows you to borrow money against the equity in your property.

LAP loans are available from many different lenders, and they can be used for a variety of purposes.

There are a few types of loans that you can get against your insurance policy.

The second type of loan is a policy loan. This is a loan that you can take out to cover the cost of your policy.

The final type of loan is an investment-backed credit card.