Loan vocabulary

Money that is borrowed is a _______________.

• lending institution

• loan

• term

To show that you are able to take on responsibility, job, or task means that you ____________________.

• qualify

• collateral

• lien

_________ is something of value uses as security for a loan.

• term

• loan

• collateral

A _____________ signs a loan contract with a borrower and promises to pay back the loan if the borrower doesn't pay.

• loan

• co-signer

• qualify

A _____________ is a claim on property or other things you own, which guarantess payment of your debt.

• collateral

• mortgage

• lien

A business or organization that loans money to people is a ___________.

• qualify

• lending institution

• term

A set amount of time is a ___________.

• term

• cosigner

• lien

A _________ is a loan used to buy a house.

• qualify

• lending institution

• mortgage

What is the best choice for you to use a personal loan for ?

• a vacation

• a birthday present

• a stereo

What do you use a student loan for ?

• a motorcycle

• tuition , housing, and food

• a dream vacation