Saving Your Money and Your Pocket – Low Rate Secured Loan Word Count: 435 Summary: Low rate secured loans are the loans at low interest rate combined with easy repayment terms. Longer repayments term help you make smaller repayment installments on time, thus enhancing your credit score…… Keywords: personal loans, secured loans, personal finance secured loans, unsecured loans, low rate secured loans, debt consolidation loan Article Body: Got a nice home, real estate or properties and the entire necessary thing for getting a good loan deal. As we all know finances act as a petrol for the vehicle called life , and we need it at regular intervals. Getting a low rate secured loan is the easiest and most reliable form of raising finances. A low rate secured loan is one which is secured by the borrower’s home, real estate or any other property which have some value to offer lender in form of equity. Now the question arises what is equity and how is it calculated? ...Equity is term given to the value of your collateral which is considered by a lender while offering you loan. It is calculated by deducting the debts (if any) against your collateral from the market value of the property. You can borrow up to 125% of the equity value varying from lender to lender on the basis of their loan lending policies. Following benefits can drive you towards applying for a low cost secured loan: •As the name suggest, these loans comes with low interest rates •Repayment terms and conditions are quite flexible •Longer repayment term ensuring smaller monthly payments •Higher rate of approval due to presence of collateral •Online option to apply with reduced paper work •Larger amount can be borrowed •People with bad credit history or poor credit score can easily apply •Loan amount can be used for debt consolidation, business funding, and children education, medical expenses, buying property (home, real estate, car or boat), holidaying around the beautiful destinations of the world etc hence are multi-purpose loans. The most important step in applying for any loan is the research involved in finding a good loan deal in the loan market. You need to get down in the market to shop around for the loans. Talk to lenders, shop around for loans, get the loan quotes and compare them. After you have selected the number of lender, sort them according to interest rates and repayment terms. Choose the combination which suits your circumstances. Before filling an application form one should consider following points: •Read out all the terms and conditions to find out if there is any hidden cost involved. •Consult your loan officer. •Find out whether the lender is genuine or not but studying his past history in loan market. •Apply for amounts which you can afford to repay or you will end up loosing your asset. Low rate secured loan is the best tool for you when you need money at ease without much affecting your budget at the time of repayments.