If you have home repairs you've been putting off or a renovation you're really eager to tackle, then you may be thinking about taking out a home equity line of credit, or HELOC, in 2023. HELOCs actually have a number of benefits. First, if you have enough equity in your home, they can be fairly easy to qualify for -- even if you don't have the best credit score. Also, HELOCs are flexible. With a home equity or personal loan, you have to commit to a single sum to borrow. With a HELOC, you get access to a line of credit you can draw from over what could be a lengthy period of time.

https://www.fool.com/the-ascent/personal-loans/articles/why-you-may-want-to-avoid-a-heloc-in-2023/

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