Unsecured Loan
An unsecured loan is granted based upon your ability to repay, usually judged by your income. One benefit of an unsecured loan is that you are not placing your home or assets at risk. However it also means that you will not be able to borrow as much money, and the APR will be more severe than if you had taken a secured loan. This is because the lender is taking more of a risk in supplying this type of loan product.
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