Birdwatch Archive

Birdwatch Note Rating

2023-04-17 05:31:59 UTC - HELPFUL

Rated by Participant: A2BF5C5C5929E51EC81DFAB0C75552EB78BAE2E54F71641CBAA715CCA7BD7360
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/

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Original Tweet

All Information

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