HOME EQUITY MAJOR PURCHASE CALCULATOR
USING A HOME EQUITY LINE TO BUY A CAR OR OTHER MAJOR ITEM
Many people use a home equity loan to buy a car, land, investment property and other large items. This calculator can help you determine the cost of financing a large purchase with your home’s equity. We have even included the ability to add a rebate value, as many car dealers offer rebates for buyers who prefer that over a low-rate financing offer.
With our Home Equity Major Purchase calculator you can compare the seller financing to the cost of using the equity you have in your home. The longer term and lower monthly payments of a home equity loan can make it seem more attractive but could make the purchase cost much more over time. With this calculator you can explore your options safely.
Home Equity/Manufactured - Park Model Rates
| Effective date: August 9, 2023 | APR** | Months | Periodic Rate Range |
|---|---|---|---|
| Home Equity Loan | 8.50% - 10.50% | *Up to 240 Months | 0.023288% to 0.028767% |
| Home Equity Fixed For Five Years | 8.50% - 10.00% | 0.023288% to 0.027397% | |
| Plus Line - Variable Rate Terms | 8.50% - 10.25% | 0.023288% to 0.028082% | |
| Plus Line - Fixed Rate Terms | 8.75% - 11.25% | 0.023973% to 0.030822% | |
| Manufactured - Park Model | 8.50% - 10.00% | 0.023288% to 0.027397% |
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