What is an Unsecured Loan?

If you’re making a big purchase, you might want to borrow money to help you cover your costs. There aren’t many people who can pay for a house out of pocket, so lenders offer mortgages. Cars are expensive, and auto loans are designed to help people pay for them.

But what do you do if you want to make a large purchase and there isn’t a loan specifically for that type of transaction? Typically, you’d get an unsecured loan.

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