Zuckerberg got a 30 year mortgage.

[ZenOps]

http://www.bloomberg.com/news/2012-07-16/zuckerberg-s-loan-gives-new-meaning-to-the-1-mortgages.html

"The Facebook Inc. (FB) founder refinanced a $5.95 million mortgage on his Palo Alto, California, home with a 30-year adjustable-rate loan starting at 1.05 percent, according to public records for the property."

Even billionaires take out mortgages. I'd bet he would take out a 50 year mortgage if they would allow it.

I figure when I'm 65, that will be the time to try to take out a 30 to 50 year mortgage. I mean really, why not?

[JDMsomething]

at 1.05% why wouldn't you take out the longest possible? Inflation is over double that. Official numbers anyways.

[bignerd]

Mortgage money is the cheapest money you will ever borrow....

[bitteeinbit]

Rich people get nice rates...

[VWEvo]

Originally posted by bitteeinbit
Rich people get nice rates...

Correction, people with good credit.

[nissanK]

This just says he can't pay cash for the house, that's all.

[BananaFob]

Originally posted by bignerd
Mortgage money is the cheapest money you will ever borrow....

Quoted for truth. I'm sure his cost of capital is many, many multiples of 1.05%

[AndrewMZ3]

Interest on mortgages in the states is tax deductible

[Xtrema]

Originally posted by AndrewMZ3
Interest on mortgages in the states is tax deductible

This.

[RickDaTuner]

Originally posted by nissanK
This just says he can't pay cash for the house, that's all. paying cash for a house in the uncertainty of the US economy right now is ludicrous.

Why take the risk of a market crash yourself, when the bake willing to do it for you at a price.

1% over 30 years is like 60% of the original home value(really fought guess). Most mortgage terms have you paying your house twice over.

[pizdets17]

In the US if you are over 40 you can't get longer than 25 years.


Originally posted by ZenOps
http://www.bloomberg.com/news/2012-07-16/zuckerberg-s-loan-gives-new-meaning-to-the-1-mortgages.html

"The Facebook Inc. (FB) founder refinanced a $5.95 million mortgage on his Palo Alto, California, home with a 30-year adjustable-rate loan starting at 1.05 percent, according to public records for the property."

Even billionaires take out mortgages. I'd bet he would take out a 50 year mortgage if they would allow it.

I figure when I'm 65, that will be the time to try to take out a 30 to 50 year mortgage. I mean really, why not?

[Canmorite]

Originally posted by nissanK
This just says he can't pay cash for the house, that's all.

Or maybe he invested that $5.9M in something that pays greater than 1.05%.

[ercchry]

Originally posted by Canmorite


Or maybe he invested that $5.9M in something that pays greater than 1.05%.

so... not facebook then? :rofl:

[Canmorite]

Originally posted by ercchry


so... not facebook then? :rofl:

Hahaha :rofl:

[Cos]

.