Birdwatch Archive

Birdwatch Note Rating

2023-04-20 11:47:49 UTC - HELPFUL

Rated by Participant: 5D84F7C1A0AAD7D13AD71BE8B089FFDF2A2D5BBE5AF5E30AEB72C189E8F33761
Participant Details

Original Note:

These payment estimates are deceptively low. A $50,000 loan at 1.5% interest and payments of $241/month would take 20 years to pay. https://www.bankrate.com/loans/loan-calculator/ Typical HELOC rates as of April 2023 are 7-8%. At 7% interest a $50k loan with $241 payments would take longer than 50 years to pay. https://www.forbes.com/advisor/home-equity/best-heloc-rates/

All Note Details

Original Tweet

All Information

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