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I would like to know how to take out a loan?

Jun 20, 2018 by james in  |  Flag
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There are many types of loans out there - each are utilized for a specific purpose and are based on different aspects of your life (personal credit score, collateral (an asset like a home, car, or investment account)).

The different types are: Open-Ended Loans - Credit cards & lines of credit Closed-Ended Loans - Set for a fixed term, cannot be borrowed again Secured Loans - Secured by an asset (401(k), Stock/Bond/Mutual Fund, Car, Real Estate) Unsecured Loans - Based on credit history, usually higher interest rates Conventional Loans - a.k.a standard mortgage loans (there are also many types of mortgages & mortgage programs)

The process to get a loan varies by the type of loan applied for. Once you find out which loan you want, contact a loan officer or your financial advisor to get more detailed information & steps to take.

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