Should I use home equity for a major purchase?
When making a major purchase, using a home equity loan or a line of credit is an alternative to financing offers that are often provided by a seller or manufacturer. In such purchases, buyers often have the option of taking either the seller-provided financing offer or a rebate on their purchase. Taking the rebate and using the equity in your home may provide a better alternative to the seller financing.
Home equity optionsUse this home equity calculator to find out if you should use home equity to make a major purchase.
Change the numbers in each input field by entering a new number or adjusting the sliders. After entering your data into each input field, the calculator results will automatically update the summary statement and chart.
How to use this calculator
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