Umrah and hajj is only obligatory for the one who is able to do it. Being able to do it includes being able to afford it, and the physical ability to travel and perform the rituals.
No one should take out a loan in order to do Hajj or umrah, and it is not recommended to do that, but if a person goes against that ruling and takes out a loan, his Hajj and umrah is still valid, in sha Allah.