Birdwatch Note Rating
2023-04-29 22:49:14 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 988E4744521F484212289381CB3E205EBE8B103F0EAE0B90430798DCF01D3B78
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