Aren’t Low Interest Rates For The Filthy Rich Too?

By
Real Estate Agent with Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional, 931-920-6730 TN Broker: 208698

 Aren’t Low Interest Rates For The Filthy Rich Too? Have you heard all the hub-Penniesbub about Mark Zuckerberg and the low 1% interest rate he got on his mortgage? The public seems to be indignant that this low interest rate be wasted on someone so rich. Is he not a good risk? Those pennies mount up as the filthy rich say.

 

The rates have been quite low for a while and many people have been smart and taken advantage of them to purchase a new home or refinance the one they have at a lower rate. I have been pleased that so many of my buyers have followed my advice and bought homes in Clarksville TN during this period of low rates. So while we Realtors have been saying to do it now before the rates begin to climb, why is there an outrage against someone who did just that, who just happens to be filthy rich?

 

While it’s probably true that Mark Zuckerberg did not need to mortgage his home, that he most likely had assets he could have cashed in to pay it off entirely, I think he was really smart to leverage his money and snatch up a 1% mortgage interest rate. Aren’t Low Interest Rates For The Filthy Rich Too? There should be no discrimination as to how wealthy you are. If you qualify, you qualify and I’m sure his underwriter was pleased to see the low debt to income ratios and all his assets to cover this mortgage.

 

So for those that have been sitting on the fence, it’s time to follow the lead of the filthy rich. Aren’t Low Interest Rates For The Filthy Rich Too? Of course they are. I just wish I could get a 1% interest rate on my house! If you would like to take advantage of low interest rates on your home purchase  or if you would like information on homes in Clarksville TN contact Debbie Reynolds Clarksville TN Real Estate Agent at 931-920-6730.

 

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When you need Real Estate services in Clarksville TN 

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2503 Wilma Rudolph Blvd., Clarksville, TN 37040 

 

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Rainmaker
282,934
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Remember the favorable treatment our President received in a certain Chicago Real Estate transaction. This is simply class warfare and another attempt to divide the people of the nation into haves and have nots. That being said, there should not be sweetheart deals for anyone when it comes to banking.

Jul 17, 2012 06:28 AM #1
Rainmaker
471,363
Marco Giancola
Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Hi Debbie-I see nothing wrong with him receiving a low interest mortgage BUT I don't think there are many of us 99 percenters that could get a 1% rate.

Jul 17, 2012 06:31 AM #2
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John McCormack
Albuquerque Homes Realty * www.AlbuquerqueHomes.com - Albuquerque, NM
AlbuquerqueHomes.com, Albuquerque Homes Realty

Good morning Debbie -

Wish I could get 1% interest I'd be moving on up the house ladder :)  Not many can qualify for 1% but interest is so low now would certainly be the time to get off the wait and see fence and get into your dream home!

Jul 17, 2012 07:28 AM #3
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Debbie - It has always been true that the less you really need to borrow money, the easier and cheaper it's going to be. But as you correctly point out, historic low rates are out there for anyone who can qualify, not just the rich - maybe not 1%, but 3.6% ain't nothing to sneeze at.

Jul 17, 2012 09:01 AM #4
Rainer
204,842
Cheryl Thomson, REALTOR, Retired (U.S. Army)
Buyers Advantage Real Estate Corp. (c: 703.216.5635) - Woodbridge, VA
Real Estate in Northern Virginia

Hi Debbie.  We just got to keep plugging on folks.  They can't say you didn't tell them!

Jul 17, 2012 01:00 PM #5
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Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Coulda, shoulda, woulda may be soon over.  I haven't heard what Ben Bernake's talk was today, but I can tell you that these interest rates won't last forever.  And, you are right.  Leveraging what you have to make more is the American Way.

Jul 17, 2012 01:34 PM #6
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Debb Janes
The Carl Group, LLC - Camas, WA
REALTOR®, EcoBroker Camas, Washington

Hi Debbie, he is an excellent risk eh?  As for the rest of us...darn straight. It is time to take advantage of these rates before it's too late. Good grief, what is it going to take? 

Jul 17, 2012 01:38 PM #7
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Your Guide to Joyful Colorado Living!

Debbie.  What the heck.  Its like the bank was just giving the money away.  I have heard of some in the high 2's but never at 1%.  Awesome.

Jul 17, 2012 02:41 PM #8
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

And again...a year later...interest rates are still low. Buy now. When they start to climb higher, a buyer will be able to buy less of a house.

Jun 23, 2013 09:03 PM #9
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