The Different Types of Loans , EXPLAINED

[{"selector":"#anim-4cba244a-7e74-40be-b8ec-7235149ddfab","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ec8db667-41c4-4ae6-90d0-20ded6240218","keyframes":{"transform":["translate3d(0px, 535.98370%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-245d1b55-8fca-4974-bd63-2d91e659134a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a4d8eb95-131d-48dd-91dd-2c203068b11a","keyframes":{"transform":["translate3d(0px, 94.55433%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-091291a0-f3ca-414a-9727-17073302f09b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] See more

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

[{"selector":"#anim-1465a2be-e154-4842-97aa-d3493e6c11c9","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-09bc431b-7b6c-417f-8fe3-ce8e01cc8628","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-afa32327-6928-498c-b037-18bc641730a6","keyframes":{"transform":["translate3d(-117.26385%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] See more

[{"selector":"#anim-27814ed5-2cd1-434b-9766-1b13d48680dc","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-808a205d-401f-42de-a4bd-d8c7328d3e2d","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The amount of the mortgage will usually be based on the value of the home and the homeowner’s credit score. Plant See more

Home equity loans are also common.

[{"selector":"#anim-361e125b-e25d-41f3-af9d-d780a2812b02","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bce95f07-9e28-4d53-a785-92e62481fce2","keyframes":{"transform":["rotate(-180deg) translate3d(0px, -90.08246%, 0) rotate(180deg)","rotate(-180deg) translate3d(0px, 0px, 0) rotate(180deg)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ca4bad25-6432-4fdc-b338-eaa54f43a904","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5ef13ea9-0886-429e-9a7a-a47f7112485a","keyframes":{"transform":["translate3d(0px, -851.79711%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] See more

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

[{"selector":"#anim-eb696698-6201-488d-902e-64f6f622e8c9","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1908717a-0393-4fb5-a0b7-970c08002007","keyframes":{"transform":["translate3d(0px, 395.34272%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-50800fdd-4bcf-4e9c-909e-72a6b888643b","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e4a094a1-432f-47d6-91ea-fcc2913de8cd","keyframes":{"transform":["translate3d(0px, 97.19169%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] See more

[{"selector":"#anim-49c64933-a839-439b-b6fb-be174c0a8220","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.5)","offset":0.33},{"transform":"scale(0.95)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-f1699e58-eb0f-4cf1-a071-686e5854edcd","keyframes":[{"offset":0,"transform":"translate3d(0, -1134.39109%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -318.990774508%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -108.447788204%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -40.724640131%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -17.696501004%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] [{"selector":"#anim-1f32a6fe-fcf7-4b2b-bc68-4f775d221858","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9beb8511-bc3b-481f-939b-c028e3d95c2b","keyframes":{"transform":["translate3d(-122.62443%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-18fc14fc-6cd0-4142-b2cd-2a06c0ad2404","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2c998412-59da-4872-b444-846f1c62b58d","keyframes":{"transform":["translate3d(115.44118%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6e12030d-490a-44ca-89a7-684492a1e86d","keyframes":[{"offset":0,"transform":"translate3d(0, -275.17927%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -77.380410724%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -26.307138211999998%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -9.878935793%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -4.292796611999999%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] 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. See more

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

[{"selector":"#anim-98d863b5-83da-4a8a-9a25-ced98daede46","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4df3cfdd-7dff-41b2-b3bd-254bb6a5f735","keyframes":{"transform":["rotate(-180deg) translate3d(0px, -90.4731%, 0) rotate(180deg)","rotate(-180deg) translate3d(0px, 0px, 0) rotate(180deg)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-74257bb8-8014-4339-a3b4-1b29e033b183","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-16cdbf6f-7fcb-4007-90b1-a71e04a0f5b2","keyframes":{"transform":["translate3d(0px, -433.97284%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] See more

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

[{"selector":"#anim-48589294-3ee6-43f1-9966-bfa8aa6a31e7","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8571cfbf-b214-4a08-86c4-dc386641f304","keyframes":{"transform":["translate3d(-121.18056%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e17d20d0-de09-47bd-ba13-c9a1dfacd0b6","keyframes":{"opacity":[0,1]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dd737b79-f119-4fa1-ab99-5eb1674e0fee","keyframes":{"transform":["translate3d(-106.81819%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-234e14f3-266f-4b22-8b56-b4e40bbece2d","keyframes":{"opacity":[0,1]},"delay":750,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a73ad351-3a2b-4b9a-aed5-be8ae38014ad","keyframes":{"transform":["translate3d(109.09091%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":750,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] See more

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.

[{"selector":"#anim-b0a21a38-68be-40a6-99dd-8179dedc58b5","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cc76ae3f-927f-404a-bb1a-fc030ec562f2","keyframes":{"transform":["translate3d(0px, 359.16078%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9494574b-3986-4af7-bc80-2e661b23ecac","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c7d1ccce-3d52-4af0-97ce-fb6e70396f45","keyframes":{"transform":["translate3d(0px, 91.47740%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] See more

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

[{"selector":"#anim-95e6c883-8c3b-4332-9f5a-179572ee01a9","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1d7d7fe9-c8c7-4f92-baef-244a7442f900","keyframes":{"transform":["rotate(-180deg) translate3d(0px, -89.49652%, 0) rotate(180deg)","rotate(-180deg) translate3d(0px, 0px, 0) rotate(180deg)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-366cd67b-7f4c-4119-82c4-959bf9c8d1a0","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-eaca9c66-21b4-45fc-8f9d-6e4a8e2a822b","keyframes":{"transform":["translate3d(0px, -553.545%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] See more

See more!

[{"selector":"#anim-ee7371fb-8373-4c84-a46f-c3f2e8bffd1d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cd6b2a9f-e1c5-47c8-aa4b-17b6b9476e22","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7d23dd3d-c1a3-427c-ad30-54a3ce18d97d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-321a849a-4e2e-4407-921f-2b88193b350b","keyframes":{"transform":["translate3d(-137.20932%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-92e4ed61-6611-4b05-9871-34a4f8f4cf0f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e8586cc3-49f0-4a34-a43f-a5079c06b59d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5b068514-a06b-4d66-9308-a3790ab1e866","keyframes":{"transform":["translate3d(-216.66667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3dd8f1bc-b355-4df4-a6b6-3b52d04a331b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7c786ccc-d0fd-4b18-bb73-9484e043c771","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-45ae6428-d113-499b-89eb-98f1473ea222","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1f2c91fe-533e-4674-b98f-67b31b58d882","keyframes":{"transform":["translate3d(-216.07143%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53969b84-86e2-4cdf-928e-2d267b853273","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Palm Leaf Green Leaf Gold loans Loans against mutual funds and shares Loans against fixed deposits