A home equity loan may be the ideal choice for homeowners who need quick access to cash. After all, equity loans provide the him or her with the opportunity to use the equity in their home as collateral against a new loan.The proceeds from a home equity loan can be used for whatever the homeowner wants, including paying off debt, paying down medical bills, taking a vacation, throwing your daughter a wedding, or doing home improvements.However, it can be a different story entirely if you have a bad credit score. Homeowners who have a low credit score often face the same issue each time they visit a new bank to apply for a home equity loan: rejection.Sometimes, getting approved for a loan is just as much about what to avoid as it is about what to do. Homeowners with a low FICO score routinely find themselves stepping right into a situation whereby they make the wrong move and it costs them a loan offer.If you are interested in qualifying for a bad credit home equity loan, here are 5 things to avoid:1. Do not just approach any home mortgage lender for a loan:As you may have already found out, the majority of home mortgage lenders are not interested in working with an individual with a less-than-perfect credit score. That is why it is essential that if you are in need of cash via an equity lender, do not just approach any given lender and apply for a loan. If you do, you will likely continue to experience the same pattern of rejection you have seen thus far.Instead, look for “bad credit home equity lenders.” These are the ones who offer just what you need for someone in your situation.2. Avoid failing to properly prepare:Bad credit equity lenders are not just going to look at your credit score. Rather, they go much deeper than that. Gather together any documents that indicate your employment history, your current income, and any relevant items related to your personal financial history.3. Do not just apply to one lender:Many homeowners interested in a home equity loan end up only applying with a single lender. This is a big mistake. If you do this, you will likely not be offered the best-possible rate the first time around. Instead, improve your odds tremendously by applying to multiple lenders.4. Avoid accepting the first offer you receive:Since you are anxious to get access to cash quickly, you may be tempted to accept the first loan offer you receive. Avoid this temptation. Instead, apply to all of the lenders on your list.5. Do not skip the fine print:Remember, before signing this – or any type of – loan documents, be sure to read the fine print. Make sure you understand the repayment period, interest rate, and other important loan details.Be sure to avoid these 5 common mistakes as you go after a bad credit home equity loan.