Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Installment Loan Installment Loan November 9, 2021 Borrowed money that is repaid in equal periodic payments. Cars and furniture are often paid for with installment loans.You Might Also Like: Living QuartersSpring Maintenance Checklist for Your Home All Things CommunityHoli-days of Giving 2022 Everyday MoneyGiving Back During the Holiday Season Living QuartersYour Top Mortgage Questions Answered Living QuartersHow to Understand Mortgage Language