Birdwatch Archive

Birdwatch Note Rating

2023-04-16 15:58:35 UTC - HELPFUL

Rated by Participant: DA212EE4D7088A69155FB18986DDB455FFECB0D90A723B128931555A371A504C
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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  • agree - 0
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  • helpfulnessLevel - HELPFUL
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