With a homeowner loan, you can borrow much more and over a longer period than with a personal loan. To give you an idea, here at Ocean, you can borrow between £10,000 and £500,000 over 3 to 30 years with a homeowner loan, and between £1,000 and £15,000 over 1 to 5 years with a personal loan. Another big difference is you must own your home to even be considered for a homeowner loan, and that’s because the loan’s secured against it as collateral. This is why homeowner loans are also known as secured loans.