Loans - Financial Freedom Association

Loans

Definition of loans:
- What are loans?
- Purpose and uses of loans.
- Types of loans.

Loan terminology:
- Interest rates (fixed variable).
- Principal amount.
- Loan term.
- Monthly payments.
- Annual percentage rate.
- Collateral.

Loan application process:
- Documentation required for loan applications.
- How lenders evaluate loan applications.
- Pre-approval and pre-qualification process.

Comparison shopping:
- Researching and comparing loan options.
- Evaluating interest rates and terms from different lenders.

Loan repayment strategies:
- Developing a repayment plan.
- Understanding loan amortization.
- Strategies for early repayment.

Government loans and assistance:
Information about government backed loans.
Loan forgiveness programs.
Financial aid resources.

Risk management:
- Identifying and managing financial risks.
- Planning for unexpected events that may impact loan repayment.

Legal and ethical considerations:
- Understanding the legal aspects of loan agreements.
- Avoiding predatory lending practices.

Future financial planning:
- Considering long-term financial goals.
- Integrating loans into overall financial planning.