When making a major purchase, using a home equity loan or line of credit is an alternative to financing offers often provided by a seller or manufacturer. In such cases, buyers often have the option of taking 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.
Using Home Equity for a Major Purchase
Use Home Equity for a Major Purchase
Loan Amount |
Monthly Payment |
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Loan Amount |
Monthly Payment |
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Home Equity Loan | Seller Financing | |
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Total Interest | ||
Total Principal | ||
Total Cost of Loan |