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Loan basics

Learn how loans work, including loan types, terms and how to choose the right loan for your financial needs.

Editors' picks

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Does Deferring a Payment Hurt Your Credit?

Louis DeNicola profile imageBy Louis DeNicola
Nov 6, 2024
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What Is an Origination Fee?

Karen Axelton profile imageBy Karen Axelton
Sep 19, 2024
Two businesspeople reviewing loan paperwork.

What Is Collateral?

Tim Maxwell profile imageBy Tim Maxwell
Apr 27, 2024

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What others are reading

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What Is a No-Interest Loan?

No-interest loans allow you to borrow money and only repay the principal, but they aren't ...

Jennifer Brozic profile imageBy Jennifer Brozic
Sep 27, 2024

Why Did My Credit Score Drop When I Paid Off a Loan?

Louis DeNicola profile imageBy Louis DeNicola
May 11, 2019

What Is a Jumbo Loan?

Jim Akin profile imageBy Jim Akin
Feb 23, 2024

What Happens if You Lie on a Loan Application?

Geoff Williams profile imageBy Geoff Williams
Dec 8, 2023

Do Personal Loans Hurt Your Credit?

Brianna McGurran profile imageBy Brianna McGurran
Oct 17, 2024

How Do I Qualify for an FHA Home Improvement Loan?

Emily Starbuck Gerson profile imageBy Emily Starbuck Gerson
May 9, 2021

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The latest from our experts

How Do Down Payments Work?

A down payment—money you put toward a purchase you are financing with a loan—is required b...

Jim Akin profile imageBy Jim Akin
Jun 18, 2025

What Is Negative Equity?

If you have a car loan or mortgage, here’s what to know about how negative equity works, h...

Ben Luthi profile imageBy Ben Luthi
May 22, 2025

Should I Use a Personal Loan to Pay for My Education?

Personal loans are incredibly versatile, but it’s usually not worth it to use one for coll...

Ben Luthi profile imageBy Ben Luthi
Jan 24, 2025

What Is a Signature Loan?

If you’re looking for a loan that doesn’t require collateral, a signature loan may be a go...

LaToya Irby profile imageBy LaToya Irby
Sep 19, 2024

What Is a Loan Application Fee?

Some loan types are more likely to have application fees than others. Depending on the loa...

Jennifer Brozic profile imageBy Jennifer Brozic
Sep 6, 2024

How to Compare Personal Loans

Compare loan offers from multiple lenders, focusing on interest rates and other metrics. P...

Tim Maxwell profile imageBy Tim Maxwell
Aug 28, 2024

What Is a Cosigner?

A cosigner pledges to take responsibility for another person's debt, such as a loan, if th...

Tim Maxwell profile imageBy Tim Maxwell
May 10, 2024

What Is Risk-Based Pricing?

When you apply for a loan, lenders will typically use risk-based pricing to determine whic...

Ben Luthi profile imageBy Ben Luthi
Jan 25, 2024

What Is Refinancing?

Refinancing a loan can help you achieve a number of goals, like saving money on interest o...

Evelyn Waugh profile imageBy Evelyn Waugh
Nov 12, 2023

What Happens if You Don’t Pay Back a Payday Loan?

If you're thinking about defaulting on your payday loan, learn what could happen and what ...

Mel Jones profile imageBy Mel Jones
Sep 12, 2023

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