Why do I need a home equity line of credit? Everybody has unexpected expenses or cash shortfalls sometimes. Or maybe you want to consolidate high-interest debts, complete home improvements, or make a large purchase. Instead of emptying your savings accounts or cashing in stocks or other investments, you can use the equity in your home to open an Alliant Home Equity Line of Credit (HELOC). Alliant HELOCs have low interest rates and the flexibility of low monthly payments, too.