8 Different Types of Loans

How Do Loans Work?

Types LOAN

1-Personal Loans

[{"selector":"#anim-8c6d1c1e-2773-4290-8030-add406c33f94","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-784d66f8-cd85-4d82-9564-d15012b8f935","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

2-Auto Loans

[{"selector":"#anim-510fa65f-fc69-4cf2-b9b3-e532e5156f6b","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-7c32033d-77f4-4234-9ddb-075a68ffcc69","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

3-Student Loans

[{"selector":"#anim-f71ac12f-5783-4102-b297-b9a95ddd7130","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-6b96e64b-5ef6-459b-804c-6c0b2cbb1970","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

4-Mortgage Loans

[{"selector":"#anim-64287b4c-9b1e-46c9-adda-a150bf210de2","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c0ae1708-2b99-4ff3-8988-a5b2ba3507db","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

5-Home Equity Loans

[{"selector":"#anim-a377b93d-4d4b-49b8-ab7b-b4f4725c590d","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-d5dabc09-3cd7-4d0d-831b-746c2c710655","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

6-Credit-Builder Loans

[{"selector":"#anim-7e207f26-b3c8-4ffd-8d7c-cb022eaa1dd3","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f9a952c1-7709-47f1-b45b-ebfed2087b7c","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-3db73084-4c2f-4720-8895-7eb27a111a84","keyframes":[{"offset":0,"transform":"translate3d(0, -218.05558%, 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, -61.317229096%, 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, -20.846113448%, 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, -7.828195322%, 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, -3.4016670479999997%, 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"}]

7-Debt Consolidation Loans

[{"selector":"#anim-00b7981a-4f38-4486-a651-b2c15ba4a038 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.251711589723424%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-5be9af1e-be2e-436b-b41d-e6e02599d31b","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c61e0615-0faa-465f-b33d-b66e5c264867","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

8-Payday Loans

[{"selector":"#anim-55040d31-f850-48ed-9137-5252358622da","keyframes":[{"offset":0,"transform":"translate3d(0, -154.04896%, 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, -43.318567552%, 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, -14.727080576%, 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, -5.530357664%, 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, -2.403163776%, 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-fe7d6b76-2314-44d5-bcb4-c243afa6d9f2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.231733933849913%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

More Details

[{"selector":"#anim-e484f743-6d77-41aa-8ba3-bda9867acba4","keyframes":[{"offset":0,"transform":"translate3d(0, -151.35278%, 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, -42.560401736%, 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, -14.469325768000001%, 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, -5.433564802%, 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, -2.3611033679999998%, 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"}]

8 Different Types of Loans

How Do Loans Work?

Types LOAN

1. Personal Loans 2. Auto Loans 3. Student Loans 4. Mortgage Loans 5. Home Equity Loans 6. Credit-Builder Loans 7. Debt Consolidation Loans 8. Payday Loans

1-Personal Loans

While auto and mortgage loans are designed for a specific purpose, personal loans can generally be used for anything you choose.

2-Auto Loans

When you buy a vehicle, an auto loan lets you borrow the price of the car, minus any down payment.

3-Student Loans

Student loans can help pay for college and graduate school. They are available from both the federal government and from private lenders.

4-Mortgage Loans

A mortgage loan covers the purchase price of a home minus any down payment. The property acts as collateral, which can be foreclosed by the lender if mortgage payments are missed.

5-Home Equity Loans

A home equity loan or home equity line of credit (HELOC) lets you borrow up to a percentage of the equity in your home to use for any purpose.

6-Credit-Builder Loans

A credit-builder loan is designed to help those with poor credit or no credit file improve their credit, and may not require a credit check.

7-Debt Consolidation Loans

A debt consolidation loan is a personal loan designed to pay off high-interest debt, such as credit cards. These loans can save you money if the interest rate is lower than that of your existing debt

8-Payday Loans

One type of loan to avoid is the payday loan. These short-term loans typically charge fees equivalent to annual percentage rates (APRs) of 400% or more and must be repaid in full by your next payday.

More Details

Click More Details Down Button