secured loan
Pledged asset borrowing
A secured loan is a loan backed by collateral—property the lender can seize if the borrower fails to repay.
Mortgages and car loans are secured loans; the house or vehicle serves as security.
Because lenders face less risk, secured loans typically carry lower interest rates than unsecured loans: We took out a secured loan using our home as collateral.
Binding promise given
- assetItem of value owned
- lienClaim securing debt
- propertySomething owned or inherent
- equityImpartial treatment or ownership value
title · seizure · repossession · appraisal · valuation · pawn · surety · encumbrance
Preset standard option
- foreclosureLender seizes mortgaged property
- insolvencyInability to pay debts
- creditworthinessAbility to repay debts
- underwritingRisk evaluation and acceptance
credit score · debt-to-income · risk assessment · guarantor · cosigner · credit check · delinquent · charge-off
Legally possessing residential property
- propertySomething owned or inherent
- escrowConditional third-party deposit
- conveyancingLegal property transfer process
- refinanceObtain new loan terms
title insurance · closing · fixed-rate · adjustable-rate · home equity · second mortgage · deed of trust · HELOC
Gradual debt reduction schedule
- principalChief school administrator
- interestAttention, stake, or fee
- installmentPeriodic partial payment
- payment planArranged installment schedule
due date · repayment · maturity · prepayment · balloon payment · grace period · delinquency · arrears
Vehicle ownership certificate
- repossessionCreditor seizing collateral
- pink slipEmployment termination notice
- refinancingReplacing a loan
- floor planArchitectural room arrangement
Debts owed to business
- working capitalAssets minus current liabilities
- line of creditPreapproved borrowing capacity
- factoringBreaking into multiplicative parts
pledge
Binding promise given
equity · title · seizure · repossession · appraisal · valuation · pawn · surety · encumbrance · chattel
default
Preset standard option
- foreclosureLender seizes mortgaged property
- insolvencyInability to pay debts
- creditworthinessAbility to repay debts
underwriting · credit score · debt-to-income · risk assessment · guarantor · cosigner · credit check · delinquent · charge-off · recovery
homeownership
Legally possessing residential property
- propertySomething owned or inherent
- escrowConditional third-party deposit
- conveyancingLegal property transfer process
refinance · title insurance · closing · fixed-rate · adjustable-rate · home equity · second mortgage · deed of trust · HELOC · appraisal
amortization
Gradual debt reduction schedule
- principalChief school administrator
- interestAttention, stake, or fee
- installmentPeriodic partial payment
payment plan · due date · repayment · maturity · prepayment · balloon payment · grace period · delinquency · arrears · payoff
car title
Vehicle ownership certificate
- repossessionCreditor seizing collateral
- pink slipEmployment termination notice
- refinancingReplacing a loan
accounts receivable
Debts owed to business
- working capitalAssets minus current liabilities
- line of creditPreapproved borrowing capacity
- factoringBreaking into multiplicative parts
- bankingbank, banks, ATM, ATMs, account
- debtdebt, creditor, owe, debtor, lender
- loanslend, borrow, borrower, lender, microloan
- lendingborrower, approval, lenders, lender, credit
- mortgagesfixed-rate mortgage, mortgage broker, adjustable-rate mortgage, mortgage payment, mortgage insurance
- auto loansmonthly payment, down payment, interest rate, APR, refinance
secured loanunsecured loan
Debt lacking pledged property
unsecured credit · signature loan · personal loan · unsecured debt · credit card debt
secure, loan, security, secured, securing, borrowing, lending, loaned, loans