Birdwatch Archive

Birdwatch Note Rating

2023-04-18 19:52:33 UTC - HELPFUL

Rated by Participant: 62DE1A5A9A6F3F87F588678EAF3867C5F5BF68BF73772A376F7CB2F474DBEE55
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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