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Home improvement loans for borrowers with unfavorable credit ratings , but the lowest charges are reserved for good- and excellent-credit borrowers. HELOC quantities could be up to 85% of your home’s value minus what you owe in your mortgage. Interest rates are usually variable, which means monthly payments fluctuate as the rate modifications. You sometimes have 10 years to spend the money from a HELOC and 20 years after that to repay the