Birdwatch Note Rating
2023-05-01 02:29:39 UTC - HELPFUL
Rated by Participant: D2B88A88CB0D1D1C1BA34C0C6C4E93F799D3748FE455AADE73A341503BA3B060
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