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Loans are purpose-oriented, and are issued by a very diverse group of financial institutions. Banks, Credit Unions, Building Societies are most common lenders. The size, interest rate and terms of repayment depend on the purpose of a loan, applicants credit history and current financial standing. Vast majority of loans is split into two basic categories secured (homeowner) loans, repayment of which is guaranteed by the applicants equity, and unsecured, which are not. The sub-categories offer detailed information and deals on loans available for defined purposes.
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