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

Table comparing different rates
Effective date: October 1, 2024 APR** Months Periodic Rate Range
Effective date: October 1, 2024
Home Equity Loan
APR**
8.50% - 10.50%
Months
*Up to 240 Months
Periodic Rate Range
0.023288% to 0.028767%
Home Equity Fixed For Five Years
APR**
8.50% - 10.00%
Periodic Rate Range
0.023288% to 0.027397%
Plus Line - Variable Rate Terms
APR**
8.00% - 9.75%
Periodic Rate Range
0.023288% to 0.028082%
Plus Line - Fixed Rate Terms
APR**
8.25% - 10.75%
Periodic Rate Range
0.023973% to 0.030822%
Manufactured - Park Model
APR**
8.50% - 10.00%
Periodic Rate Range
0.023288% to 0.027397%

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