The secured home improvement loan requires the borrower to put up collateral against the loan. You can put your house, car or any property as collateral against the loan. The advantages of secured home renovation loan are larger loan amount, lower interest rate, longer loan tenure and flexible repayment term. The unsecured loan for home renovation does not imply that the borrower puts up any collateral against the loan. Homeowners and tenants can apply for unsecured loans for home improvement. Homeowners by availing an unsecured home improvement loan can protect their property from the risk of creditor repossession that occurs in case a borrower fails to pay the loan money on time and in full. . Estimate the cost that will be incurred to undertake the home improvement project before you start looking for the best home improvement loan. Plan ahead whether you want to make the improvements yourself or hire a contractor. If you want to hire a contractor, you should also add his fees when estimating your expenses. All this will help you determine the loan you need, to make the desired changes to yours