Combine Equal®, applesauce, brown sugar, butter, egg, milk and vanilla. Mix with electric mixer until well blended. Stir in combined flour, baking soda, cinnamon, nutmeg and salt. Gradually mix in oats and raisins until well combined.
Drop by tablespoonfuls onto sprayed baking sheets. Bake in preheated 350° F oven 10 to 12 minutes or until light golden in color. Remove from baking sheet and cool completely on wire rack.