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Steps to Secure the Best HELOC

1. **Assess Your Equity**: Start by determining how much equity you have in your home. Most lenders will allow you to borrow up to 85% of your home's value, minus any outstanding mortgage balance³.

2. **Check Your Credit Score**: A good credit score can help you qualify for better rates and terms. It's advisable to review your credit report and address any issues before applying.

3. **Shop Around**: Don't settle for the first offer you receive. Visit websites and browse options from multiple lenders to compare rates and terms. This research will help you identify the most competitive offers available.

4. **Understand the Terms**: Pay close attention to the draw period and repayment terms. A longer draw period offers more flexibility, while favorable repayment terms can ease financial strain.

5. **Consult a Financial Advisor**: If you're unsure about the best option for your situation, consider consulting a financial advisor. They can provide personalized advice and help you navigate the complexities of HELOCs.