Because a HELOC is a secured loan — backed by your house — you can qualify for decrease rates of interest than you would for an unsecured private mortgage. A HELOC is also revolving credit score, which means you can take what you want if you need it . Because of this flexibility, HELOCs are well-suited for longer, larger initiatives. Home improvement projects, whereas expensive, are sometimes price it in the event that they increase the value of your home. On average, owners recoup seventy four cents for every dollar they spend on home improvement when it comes time to …