A secured loan is one in which you use some form of collateral as surety for the loan, which reduces the risk for the lender. Most lenders will require an appraisal of the property you use as collateral to ensure it does meet or exceed the amount of money you wish to borrow.

The amount of money you can borrow in a secured loan varies from one lender to another and depends on your individual circumstances, which include your income, your credit history and your ability to repay the loan based on information contained in your credit record about your other debts.