Birdwatch Note Rating
2023-04-15 22:35:33 UTC - HELPFUL
Rated by Participant: AD8F5BEC4D329820A83A5DF758DA1EEBACD160056BABD796ED5B47C52C32864A
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