Why does mark zuckerberg have a mortgage

For example, a 5-year ARM might make perfect sense if you plan to sell or refinance in five or six years. Emotion has no place in borrowing decisions.

They are just numbers — evaluate them or have an accountant help you, and then choose your loan. The rich consider mortgages just another part of their investment portfolio — a way to make or keep more money.

If you want a bigger balance in your own bank account, take a cue from these savvy investors. Get a quote and see how low your interest rate can be. A social security number is not required to get started, and all quotes come with access to your live credit scores. How Soon Can I Refinance?

How Often Can I Refinance? It Is Worth Refinancing For 0. This will alert our moderators to take action. Nifty 18, Market Watch. ET NOW. Brand Solutions. Video series featuring innovators. ET Financial Inclusion Summit. Malaria Mukt Bharat. Wealth Wise Series How they can help in wealth creation. Honouring Exemplary Boards. Deep Dive Into Cryptocurrency. July 17, In addition to getting married and taking his company public, the Facebook CEO capped off a busy summer by refinancing the mortgage on his house, Bloomberg reported Monday.

The Palo Alto , Calif. Zuckerberg financed it with a year adjustable mortgage loan, with a rate of 1. So why get a mortgage? Because it costs him absolutely nothing. A year fixed-rate mortgage hit 3. So how did the Zuck land such a low rate? For one, his mortgage is adjustable, meaning the interest rate could go up. McBride says. An adjustable rate mortgage "is not a mainstream product. Should the interest rates skyrocket, or become too high for holding a mortgage, Zuckerberg and his ilk can easily buy their homes outright, leaving the mortgage behind with no repercussions.

But while the rest of us 99 percenters may not have access to a 1 percent mortgage, home loans are at least not the financial trap they were five years ago. But 95 percent of mortgages now are government-backed loans, which come with very attractive interest rates. And those are only available to creditworthy borrowers. Already a subscriber? Monitor journalism changes lives because we open that too-small box that most people think they live in.

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