Facebook’s Zuckerberg Paying 1.05% Rate On $5.95M Mortgage

Posted by Orb Staff on July 17, 2012 No Comments
Categories : Residential Mortgage

11999_220px-mark_zuckerberg Facebook's Zuckerberg Paying 1.05% Rate On $5.95M Mortgage Attention, class warfare enthusiasts: one of the world's richest men is paying one of the lowest rates for the refinanced mortgage on his mansion.

The San Francisco Chronicle reports that Facebook founder Mark Zuckerberg has refinanced a $5.95 million mortgage on his Palo Alto, Calif., home with a 30-year adjustable-rate loan starting at 1.05%. The five-bedroom, 5 1/2-bath house was purchased in March 2011 for $7 million. Monthly principal and interest mortgage payments on the newly refinanced home loan are estimated to start at $19,275.

The 28-year-old Zuckerberg is listed by the Bloomberg Billionaires Index as the world's 40th-wealthiest person, with a net worth of $15.7 billion. Neither Facebook nor First Republic Bank, which refinanced Zuckerberg's mortgage, would publicly comment on the report, which was culled from public records for the property.

(Photo courtesy of Guillaume Paumier.)

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