Understanding the different types of loans available is the first step toward making a smart financial decision. Each type has its own purpose, interest rates, and terms.

Common Loan Categories

Mortgages: Used to buy a home, they are secured by the property itself and have long repayment terms (15-30 years).
Auto Loans: Used to buy a vehicle, also secured by the asset, with shorter terms (3-7 years).
Personal Loans: Can be used for anything and are often unsecured, which means they may have higher interest rates.

Calculate Your Potential Payments

No matter the type, our Loan Calculator can help you estimate your monthly payments and understand the total cost of borrowing.