Secured Loans – Lower Rates with Collateral

A secured loan is backed by collateral — typically your home, vehicle, or other assets. Because the lender has security, interest rates are lower than unsecured loans, and approval may be easier for those with lower credit scores.

Types of Secured Loans in Canada

Common secured loans include home equity loans, HELOCs, car loans, and secured personal loans. Fairstone and major banks all offer secured personal loan options.