Zuckerberg shows wealthy get deal on mortgages

PALO ALTO, Calif. (KGO) -- Talk about a reverse sliding scale -- when it comes to getting a mortgage deal, Facebook CEO Mark Zuckerberg proves the richer you are, the less you can pay.

Public records show, Zuckerberg has re-financed his $6 million Palo Alto home with a 30-year adjustable rate loan starting at 1 percent.

While all lending rates are near historic lows right now, experts say high net-worth individuals can pay even less using adjustable rates. Most people can't afford the risk of a large increase later on, so they lock in a higher interest rate.

Zuckerberg is the world's 40th wealthiest person, worth $15.7 billion.

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mark zuckerberg, palo alto, mortgages, business

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