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9/05/2006

Wells Fargo to Offer 40 Year Fixed Mortgage

According to Joe Rogers, Executive VP with Wells Fargo Home Mortgage's National Consumer Lending Division, " A 40 year mortgage may be appealing to first-time homebuyers, consumers in high-cost markets, real estate investors and buyers on fixed incomes". Rates on the 40 year mortgages are expected to be about one quarter point higher than those on typical 30 year term mortgages. Last year, Weichert Financial Services was one of the first to offer 40 year home loans.

# posted by Miami Beach Homes @ 9/05/2006 12:03:00 PM

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