A loan is when a sum of money is lent to another party or individual, usually including interest and other charges, in exchange for the future repayment of the loan. When the borrower takes on the loan, they agree to a set of terms that could include interest, finance charges, as well as repayment dates. There are several types of loans, with some of the most common types being mortgage, student, personal and auto. Loans are a form of debt, and lenders will evaluate your creditworthiness, generally including factors such as your credit scores and reports, before offering you a loan with its associated loan terms, including interest rates. The better your credit history, the more likely you'll be offered a loan with better terms. We'll dive into the differences among mortgages, student loans, auto loans, personal loans, and more.
What Are First-Time Homebuyer Loans?
What Is a Loan-to-Value Ratio (LTV) & How Is It Calculated?
What Is the Fair Credit Reporting Act?
The Fair Credit Reporting Act (FCRA) can impact loans. Learn more about the FCRA, including requirements, fair credit reporting act violations and how the act impacts the loan process.
Finding the Right Personal Loans for Borrowers with Good Credit
If you have "good" or "fair" credit scores, there are personal loan options available. We can help you navigate personal loans with favorable annual percentage rates for borrowers with good credit. Learn more at Equifax.
Your Mortgage Application Was Denied: Here’s What to Do
Did your mortgage application get denied? Equifax can help you figure out why, determine the best time to reapply for a mortgage, understand how this impacts your credit history and more.
What Is Private Mortgage Insurance?
For first-time homebuyers, private mortgage insurance (PMI) may be an unexpected expense. What is PMI and why is it added to mortgage costs?
Refinancing Private Student Loans
You can refinance private student loans, but be sure it makes sense for you. Learn about refinancing, consolidation and more!
How to Get a Personal Loan and How They Work
Personal loans can be a great way to secure financing to help you achieve your financial goals. Learn all about how personal loans work and more at Equifax.
Student Loan Forgiveness Update: Do You Qualify?
Learn about President Biden’s plans to forgive student loans and other ways you may be able to qualify for student loan forgiveness.
Do Student Loans Affect Your Credit Scores?
Student loans may be a necessary part of your financial journey. Let's discuss how they work and their possible impact on your credit.
Should I Refinance My Car?
Did you buy a car recently and now you’re wondering if you should refinance your car loan? Learn more about when and how to refinance your car.