 TITLE: Best and Worst Ways to Use a HELOC CONTENT: Is a HELOC Right for You?\n-------------------------\nWhile HELOCs do offer lower interest rates and greater flexibility than many other financing options, the tradeoff is putting your home up as collateral. Before choosing a HELOC, carefully consider how it will affect your home equity, how you will pay it back, and whether less risky financing alternatives are a better fit for your needs.\nTo qualify for a HELOC, you'll need a good credit score plus significant home equity. Before applying for a HELOC or any loan, check your FICO® Score and credit report. If your credit score needs work, you can help improve it by paying down debt, maintaining low credit utilization and not applying for new credit until you're ready to apply for the HELOC. Once you have a HELOC, make payments on time to help boost your credit score. END