If you take out a home equity line of credit (HELOC), what can you spend the money on? The answer is simple: whatever you want. But just because you can doesn’t mean you should. This guide explores the most common — and financially sound — uses for HELOCs and other important things to consider before tapping into your home’s equity. What can you use a HELOC for? 1. Home improvements Many homeowners use HELOCs to fund the right home improvements. Renovation projects, such as remodeling your kitchen or ...