Secured debt

Secured debt

Secured debt is a loan that's supported by collateral. Mortgages are secured, because the lender takes a lien on the property, and has the right to foreclose in a default situation. Auto loans are also secured, because the lender takes a lien on the vehicle.

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Loan Type Today
30 Year Fixed   6.05
15 Year Fixed   5.72
5/1 Adjustable   5.78

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