I heard a bit about the pop-up business school in a pod-cast. Their main approach is to first find a real customer who actually wants to pay you for your product and then refine the product to be exactly what the customer wants. Don't make major investments before finding a customer.
Also, I presume that in the US, as in other countries, you can create your own company that carries it's own risk to a certain maximum. If you go broke, your company goes broke and not you personally. This way you don't risk your household's money. But for a bank to provide a loan to your company you will probably need to have paying customers.
As the previous poster said, get professional advice.