 TITLE: Best Ways to Pay for Home Improvements CONTENT: Home Equity Line of Credit (HELOC)\n----------------------------------\nIf you have good to excellent credit, you may qualify for a home equity line of credit (HELOC), a form of revolving credit secured by the equity in your home. You can usually borrow 60% to 85% of your home's assessed value, minus the remaining balance of your mortgage.\nMost HELOCs allow you to draw on your credit for a \"draw period\" of up to 10 years. During this time, you'll make interest-only payments on any money borrowed. (Some lenders accept principal payments during the draw period.) After the draw period, you typically have 20 years to pay off the loan balance, or you can refinance the loan. END