Both secured and unsecured loans from Best Egg are based on your credit history—but they differ in collateral:
- Unsecured loans require no collateral.
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Secured loans use fixtures in your home (like built-in cabinets, vanities, and light fixtures) as collateral.
- These fixtures are subject to a UCC-1 lien filed with your county.
- Your home itself is never used as collateral.
- Items not secured or attached to your home like TVs, dishwashers, or laundry units are not used as collateral.
Secured loans typically offer lower rates in exchange for the added security of the fixture lien.
Keep in mind, checking your rates has no impact on your credit score. Click here to get started.
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