Secured Personal Loans

A secured personal loan lets you borrow using eligible collateral, often providing lower interest rates and affordable monthly payments.

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Affordable Financing Backed by Collateral

A secured personal loan can be a smart option if you have eligible collateral and are looking for competitive rates and predictable monthly payments. Whether you're planning a major purchase, consolidating expenses, or covering unexpected costs, MHFCU can help you find a financing solution that fits your needs.

How Secured Personal Loans Work

A secured personal loan uses eligible collateral to help secure the loan.

Apply online
Discuss eligible collateral with a loan officer
Receive your loan decision and terms
Enjoy fixed monthly payments throughout your loan

Competitive Rates

Using collateral may qualify you for lower interest rates than some unsecured loan options.

Fixed Monthly Payments

Enjoy predictable monthly payments that make budgeting easier.

Borrow with Confidence

Use eligible assets to secure financing while working with a lending team committed to your success.

Before You Apply

Determine how much you need to borrow
Review your monthly budget
Gather information about your collateral
Prepare proof of income and identification
Contact MHFCU if you have questions about eligibility

Secured vs. Signature Loans

Secured Personal Loan	Signature Loan
Uses eligible collateral	No collateral required
May qualify for lower interest rates	Rates based on credit qualifications
Fixed monthly payments	Fixed monthly payments
Great for larger purchases or borrowing needs	Ideal for everyday borrowing and unexpected expenses

Frequently Asked Questions

What is a Secured Personal Loan?

A secured personal loan is backed by eligible collateral, which may help you qualify for competitive interest rates and affordable monthly payments.

What can I use as collateral?

Eligible collateral varies depending on MHFCU lending guidelines. Contact our lending team to discuss available options.

Are the payments fixed?

Yes. Secured personal loans typically have fixed monthly payments for the life of the loan.

Can I pay my loan off early?

Many loans can be paid off early. Contact MHFCU for details regarding your specific loan agreement.

How is a Secured Personal Loan different from a Signature Loan?

A signature loan does not require collateral. A secured loan uses eligible assets as collateral and may offer lower interest rates depending on your qualifications.