Home improvement loan can be taken by any person willing to make home improvements. They are useful and best source of funds when the people don't want to use his saving or they are facing financial crisis. The amount which will get approved will certainly depend upon the equity in the asset. And in certain cases lender will also consider his income, financial status and his credit score. Or, any major home improvements. Making improvements always add value to asset or house. The person can go for secured and unsecured home improvement loan. Generally to avail the low rate of interest and flexible repayment period, people prefers to go for secured home improvement loan. But there is always a risk attached to the secured home owner loan. The risk associated with property paced as collateral with the lender. That is, if you are not able to make regular payments, you can lose your house. In order to avoid such situation the person is advised to take insurance against the payment protection. On the other hand, property risk is not associated with the unsecured home improvement loan as no property is involved.