GOAL:
Red borders should became green once image in .thumbnail div is loaded
JSFIDDLE: https://jsfiddle.net/3k8xy2cf/
var container;
var img;
$("#products .thumbnail").each(function() {
  container = $(this);
  img = new Image();
  img.src = $(container).find('img').attr('src');
  img.onload = function() {
    $(container).addClass('loaded');
  }
});.product {
  float: left;
  border: 5px solid red;
}
.product.loaded {
  border-color: green;
}
.product img {
  width: 25%;
}<script src="https://ajax.googleapis.com/ajax/libs/jquery/2.1.1/jquery.min.js"></script>
<div id="products">
  <div class="product">
    <div class="thumbnail">
      <img src="https://placehold.it/600x600" alt="">
    </div>
  </div>
  <div class="product">
    <div class="thumbnail">
      <img src="https://placehold.it/800x800" alt="">
    </div>
  </div>
</div> 
     
    