A lot of people confuse homeowner loans with mortgages. These are not the same by any means. To even qualify for a homeowner loan you need to own a property.
A mortgage is like a loan that is given to the person buying the property. The idea is that while they pay back the mortgage, the lender is covered if anything goes wrong by taking back the house. You have to keep up with the payments until they are all cleared, only then do you own the home.
A home loan is similar except there is a company lending you money in the more traditional sense. They loan, you pay back based on a plan that you agree to.
A homeowner loan is money that you can take on loan by putting it up against your house. In other words, you are saying that you guarantee payback because your house is now the collateral.
While these are all similar, they are very different loans. They are only really suited to specific situations with different repayment circumstances.
A homeowner loan is a great way to get that loan you need with ease. No one will turn you down because they are covered in any event. As long as you are financially sound, this type of loan is great.
Check out a website like 'Money Supermarket' or 'U Switch' to get a decent idea of how the repayments work. You can definitely get a great deal with a homeowner loan so be sure to check them out.