CUNA Chief Economist Mike Schenk spoke with Money.com recently about what consumers should know when borrowing against their homes.

In the piece, Schenk delves into the benefits of a home equity line of credit (HELOC) over other forms of borrowing, what homeowners should research before looking into a HELOC and other tips.

Schenk notes that HELOCs can be best used for “investments that would increase the value of your house, or the livability of the property.”

He also recommends potential borrowers make sure they do the research into the amount of debt they can handle, preparations that include saving six months’ worth of expenses.