Types of Loans
Consumer Installment Loans
|A consumer installment loan is used to pay for personal expenses for you and your family. Examples are:
What are some other reasons for obtaining a consumer installment loan?
The Loan to Own Money Smart module provides more detailed information on consumer installment loans.
|Credit cards give you the ongoing ability to borrow money for household, family, and other personal expenses.
Having a credit card allows you to buy things without actually having the money right away. Remember that if you are not careful in spending, you can get into big trouble—you could be burdened with debt. You need to be sure you are able to make the minimum monthly payment on your credit card bill.
|There are three main types of home loans:
Remember: Any type of home loan you obtain is secured by your house. If any home loan is not repaid, you could lose your house.
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