Birdwatch Note Rating
2023-04-14 16:30:12 UTC - HELPFUL
Rated by Participant: 6163940F5EAC16784E4E66FFDE6EDA573AD64413C39956F0D94D1C05493A1E80
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