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.

Use 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.