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Secured Loans – Lower Rates with Collateral

Comparing 4 offers. Updated July 21, 2026.

Best Offers – Secured Loans 2026

Best Egg

Best Egg specializes in fast, fixed-rate personal loans up to $50,000 with the option to use a vehicle as collateral for lower rates.

$2,000 USD – $50,000 USD APR from 6.99% Approval: 1-3 business days
★★★★★ 4.5
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OneMain Financial

OneMain Financial offers secured and unsecured personal loans up to $20,000, accepting bad credit and even no credit history.

$1,500 USD – $20,000 USD APR from 18.00% Approval: Same day
★★★★★ 4.3
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Figure

Figure offers fast online HELOCs with funding in as little as 5 days, leveraging blockchain technology for transparent terms and competitive rates.

$15,000 USD – $400,000 USD APR from 7.85% Approval: 5 days
★★★★★ 4.6
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Mariner Finance

Mariner Finance is a regional consumer lender with 480+ branches across 27 states, offering personal loans, secured loans, and auto loans for fair credit borrowers.

$1,000 USD – $25,000 USD APR from 18.99% Approval: Same day in branch
★★★★☆ 4.0
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A secured loan is backed by collateral, usually a home, vehicle, savings account, or other asset. Because the lender has security, APRs are lower than unsecured personal loans and approval is easier for borrowers with fair or rebuilding credit.

Types of Secured Loans in the US

The most common forms are home equity loans and HELOCs (collateral: your home), auto loans (collateral: the car), secured personal loans (collateral: vehicle or savings), and title loans. Best Egg, OneMain, and Figure offer popular secured personal loan options.

Pros and Risks

You get lower APRs and longer terms, but you put the asset at risk. Missing payments on a secured loan can lead to foreclosure (home), repossession (car), or loss of pledged savings. Borrow only what you can repay comfortably and read the lien terms carefully.

Frequently Asked Questions

What can be used as collateral?

Common collateral includes your home (mortgage, HELOC, home equity loan), vehicle (auto loan, OneMain Secured, Mariner secured), savings or CD account (PenFed, USAA), retirement assets (Achieve), and investment portfolios (margin loans at brokerages like Fidelity and Schwab).

What is the LTV ratio?

Loan-to-Value is the percentage of the collateral value that the lender will lend. For home equity products LTV is typically 80 to 85 percent. For auto loans LTV is 100 to 110 percent. Higher LTV means more risk and usually a higher APR.

What happens if I cannot repay?

The lender can repossess the collateral. For a home this is foreclosure (a formal court process in most states). For a vehicle it is repossession (the lender hires a recovery agent). For savings or stocks, the lender liquidates the asset. Default also damages your credit for 7 years.

Are secured loans always cheaper?

Usually yes. A secured loan typically saves 2 to 8 percentage points compared to an unsecured loan for the same borrower. The savings are highest for borrowers with weaker credit, where the collateral compensates for the credit risk.

Frequently Asked Questions – Secured Loans

A secured loan is backed by collateral, such as a car, home, savings account, or other asset. If you fail to repay, the lender can take the collateral to recover its money. Because this lowers the lender's risk, secured loans often have lower APRs or higher borrowing limits than unsecured loans. The trade-off is that your pledged asset is at risk.
Common forms of collateral include real estate, vehicles, savings accounts or certificates of deposit, and sometimes investments or other valuable property. The lender values the asset and usually lends a percentage of its worth. Different lenders accept different types of collateral, so confirm what qualifies. Pledging an asset you can afford to risk is an important consideration.
They often are, because the collateral reduces the lender's risk, which can help borrowers with lower credit scores qualify or obtain better rates. Lenders still review income and credit, but the asset provides added assurance. The key drawback is that defaulting can mean losing the collateral, so weigh that risk before choosing a secured loan over an unsecured one.
If you default, the lender can seize and sell the collateral to recover the balance. For a home, this may mean foreclosure; for a vehicle, repossession. If the sale does not cover what you owe, you might still be responsible for the remaining amount. Defaulting also harms your credit, so contacting the lender about hardship options early can help.