1

Is there a difference between a collateralized loan and a secure line of credit? Both seem similar to me in that you are borrowing money against equity that you own (house,car, gold whatever)

2

Collateralized & Secured are interchangeable terms.
Note the following two quotes from wikipedia (links below):

"A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan."

http://en.wikipedia.org/wiki/Secured_loan

"In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan."

http://en.wikipedia.org/wiki/Collateral_%28finance%29

This website also uses the terms interchangeably:

http://www.wisegeek.org/what-is-a-collateral-loan.htm


Loan & Line of Credit are not interchangeable terms.

In a loan, you receive a one time disbursement & repay it over a fixed amortization schedule. (Think home mortgage)

In a line of credit, you can pay back & re-borrow from your credit line as often as you need. (Think credit card or Home Equity Line of Credit)

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