A home improvement loan can be a great way to renovate or upgrade your residence, but there are other names for this type of financing that can help you find the right loan for your needs. One popular alternative is a renovation loan, which specifically targets home improvement projects. Another option is a personal loan, which can be used for a variety of purposes including home renovations. If you're considering a home equity loan, make sure you understand the risks involved as it uses your home as collateral. Lastly, a cash-out refinance could be an option if you have accumulated equity in your home and want to borrow against it for home improvements.