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How does a Secured Loan Work? - Video

Transcript:

Life is made up of all kinds of moments.

And when it's time to plan yours, a secured loan or line of credit could help pave the way for your best moment yet.

There are two types of secured loans. One is used to purchase a home, a car, or another asset.

The other type of secured loan allows you to use what you already own as collateral, so you can get the cash you need.

To find out more about getting cash with a secured loan, let's take it one step at a time.

First, look at the benefits of secured loans: they can offer attractive rates, flexible terms, and quick access to cash.

Next, decide which you'll use to secure your loan - your savings account or home.

Finally, you can choose between a loan or a line of credit, which gives you ongoing access to funds over time. And when you find the option that's right for you, you can be ready to take on anything.

It's easy to do when you take it one step at a time.

Contact Wells Fargo today to find out if a secured loan is right for you.

wellsfargo.com/securedloans