Home equity loan can be used as a person's main mortgage in place of a traditional mortgage, however you cannot purchase a home using a home equity loan, you can only use a home equity loan to refinance.
Home equity loan can be used as a person's main mortgage in place of a traditional mortgage, you can only use a home equity loan. This is however. This is to refinance. You cannot purchase a home. You is using a home equity loan a person's main mortgage.