Birdwatch Note Rating
2023-05-01 04:01:31 UTC - HELPFUL
Rated by Participant: 743F239023954BABF598E63221EF8FF9111A35CC1120EE79C2CC2F04C39D9BE3
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