Birdwatch Note Rating
2023-04-17 11:58:14 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 605B6390A6FAFAD7123D23F6F1FA64568C9FDFCAE9630E4CE2EF0BBFA76EA8E0
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