Secured Loans are loans which are guaranteed by the equity in your home - if you default on repayments, the lender has the option of repossessing your home to repay the loan, although that step is very much a last resort. Because of this security, secured loans are less of a risk to the lender than unsecured loans, and so the interest rate will usually be lower, and it is easier to get approved for those with bad credit ratings etc.