Birdwatch Archive

Birdwatch Note Rating

2023-04-15 06:47:27 UTC - HELPFUL

Rated by Participant: 8C243E671AB45E7B1CEDD5FDF1C4A2DC37C565A5727E2D76B6AEE2365544B1F7
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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