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secured loan

American  
[si-kyoord lohn] / sɪˈkyʊərd ˈloʊn /

noun

Finance.

  1. a loan that is backed up by collateral pledged by the borrower, which the lender can sell to cover repayment of the loan if for any reason the borrower is unable to do so.

    A mortgage is the most common type of secured loan, in which the home or property backs up the loan.

Etymology

Origin of secured loan

First recorded in 1895–1900

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.