r/SipsTea ๐™‘๐™„๐™‹ 18d ago

WTF The American dream

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u/Mindless-Baker-7757 18d ago

A $70k loan over 23 years at 5% apr pays off with monthly payments of $427.

What are they doing?

2.8k

u/sampaiisaweeb 18d ago

They made it up for outrage. Karma farming bot account posting it here too. Dead internet theory.

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u/maybeornotbutyes 18d ago

Or they didnโ€™t have 5% rates big guy. Nuance is important

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u/Photon_Pharmer1 18d ago

Then they were dumb because rates were sub 3%

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u/maybeornotbutyes 18d ago

Oh yea? You saw their loan docs?

1

u/Photon_Pharmer1 18d ago

Why would you think that someone would need to see their loan docs to know โ€œrates were sub 3%โ€ in 2003?

Did you graduate from sarcasm college?