Birdwatch Note Rating
2023-04-18 20:32:36 UTC - HELPFUL
Rated by Participant: 2F283B5682D8535A193B71FE61D487F1D33590C4A43160B44289E5D2470DE4FD
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