About Different Types of Loans

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Loans are made by financial institutions to commercial and non-commercial consumers, and the variety of these loans will usually key into the types of security that are provided. Learn about home loans and auto loans with help from a registered financial consultant in this free video on money management and personal finance.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser, Patrick Munro talking about the different types of loans out there. Loans are of course made by financial institutions to consumers that are both commercial businesses as well as consumers. The different types of loans are so wide in variety they normally will key into the different types of security that is underlying the loan. The most common loan of course out there seems to be a home loan and home loans of course have a myriad of different configurations to go along with them depending on how you want to pay off that loan. Then of course there are auto loans that you can get involved in, consumer loans are one of the first things that we come across in our life because when young people start off they normally require a loan to go to school and complete that process. As you move through life loans will be part of your overall life and paying back those loans in a timely basis are very very important to keep your credit right up to where it needs to be. This is financial adviser, Patrick Munro talking about the different types of loans.

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