Types of Consumer Loans

Types of Installment Loans

  • Mortgage Loans: Loans for buying a house

  • Home Equity Loans:

  • Education/Training Loans:

  • Personal Loans:

  • Store Credit Loans:

  • High Interest Loans:

*Home Equity: i.e. someone buys a house for $200,000, but later the hose goes up in worth to $800,000. This means your home has $600,000 in equity. (basically just the amount of money your house’s value goes up after you buy it —> the difference between the latest worth and the price you paid for it.