
Personal Loans
Personal loans can be unsecured, meaning that holding collateral, like your home, in exchange for lending you the funds is not required. Therefore, if you’re not a homeowner or don’t have the equity in your home needed for a home equity loan or HELOC, this may be a good option for you. Approval for a personal loan is typically based on your credit score and history, and interest rates are usually lower than most credit cards.