Get yourself a kettlebell. Weight Loss and Muscle Gain should then be the least of your expectations. Because kettlebells kick some ass.
There is no better way to burn fat and build muscle at the same time than kettlebell swings, snatches, and clean and jerks. These ballistic exercises work your body as one unit and require a great deal of hard work. The harder you work the more calories you burn. This is why sprinters are ripped to shreds and marathon runners have a skinny-fat look.
As effective as sprinting is, ballistic kettlebell exercises such as high rep snatches (20 reps or more per set) make sprinting look like a walk in the park. High rep snatches work more muscle groups than sprinting and will build strength in the lower back, shoulders, and hip flexors. Its kind of fun too!
You can literally work every muscle in your body with the kettlebell. Weight Loss begins when you're body is expending more calories than it is taking in, so the kettlebell is a perfect tool. You can't exactly run with a kettleball, but it will make your heart pump like you're doing cardio for sure.
For muscle mass, try switching up your normal barbell tricep presses for kettlebell tricep presses. Slight changes in angle force new muscles to work harder helping to breakthrough plateaus and create new muscle.
As part of a home gym, the kettlebell is small and compact yet gives you the functions of much larger machines and weights. If you're building a "home gym", we've got plenty of information on how to do that as well as more equipment tutorials.