I have done the same and totally agree with Meganne, choose one with a fairly dense lace.
I have successfully added words to FSL designs, but a word of caution ( Pun intended!!!), learn from my mistakes, make sure the design you choose has a fairly close/dense foundation grid and be sure to place your letters so that they attach to stitching on the grid as much as possible or they will unravel.
Hope this helps, hugs n roses, Meganne