Birdwatch Note Rating
2023-04-30 05:06:10 UTC - HELPFUL
Rated by Participant: 6C9D75FEBF901CB371FC15E448A370C1308E253D5A2DCAEA101537C83D2E69BC
Participant Details
Original Note:
As noted in previous community notes, these payment estimates are deceptively low. A $50k loan at 1.5% and payments of $241/month would take 20 yrs to pay. https://www.bankrate.com/loans/loan-calculator/ HELOC rates as of April '23 are 7-8%. At 7% a $50k loan with $241 payments would take longer than 50 yrs to pay. https://www.forbes.com/advisor/home-equity/best-heloc-rates/
All Note Details