From time to time, everyone needs a loan for a wide range of reasons. You may need a loan to buy a car, pay off and consolidate your debt, buy furniture, study, go on a vacation, or pay for some urgent personal costs.

Depending on the lender, a personal loan may be offered as secured or unsecured. The amount of money you can borrow depends on how much you need, your credit standing and whether you can provide security for the loan or not.

You may get a personal loan from your bank, private finance companies or credit unions. Personal loans are normally short-term, with repayment expected within 1 – 4 years, depending on the type of loan amount you are borrowing and the purpose of the loan.

You can easily apply for a personal loan online. There are services that allow you to submit your application online, and you get the best loans terms, including interest rates and monthly repayment amount. Once you submit your application online, these services search for the best deal for you, saving you the time you would need to talk to many potential lenders to see who can give you the best deal.

Besides a personal loan, you may also need to apply for a Home Loan. Home loans are generally designed to be long-term. You can get your home mortgage financed by a bank, lending company or credit union for a period of 30 years. A home loan normally covers the purchase of the home. If your circumstances change, you can also apply for a second mortgage. You can also apply for an equity loan or you may apply for a refinance.