Birdwatch Note Rating
2023-05-01 05:49:18 UTC - HELPFUL
Rated by Participant: 09160D401B9A3F272A9A7FE490EEB11B12A6A3ED5DF70BA68D799FDCF8F9E898
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