Birdwatch Note Rating
2023-04-30 20:56:11 UTC - HELPFUL
Rated by Participant: 9FB7682DBA4737E86744FF9FD0B288CB3F920AB041D4F8ED9872A233B6840C68
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