Michelle Thornhill is the Senior Vice President and African American Segment Manager at Wells Fargo/Wachovia. Michelle has over 15 years of experience developing consumer initiatives for diverse audiences in the financial services and non-profit sector. Michelle earned a Bachelor of Science from Virgina Polytechnic Institute and State University, a Master of Science in Administration from Central Michigan University and a Master of Public Administration from Harvard University, the John F. Kennedy School of Government. Michelle resides in Charlotte, N.C. with her husband and two sons.
As you prepare to buy a home, you may be applying for financing. Consider your current and future financial situation when deciding how much you can afford in a mortgage payment. Think about the type of loan you may want. Are you comfortable with an adjustable interest rate or do you prefer a fixed rate? Although adjustable interest rates tend to be lower, you might be more comfortable with a mortgage payment that is stable and predictable, as with a fixed interest rate. Take into consideration how you will be using the loan. Someone buying a fixer-upper might need a different loan than someone buying a newly constructed home. Wells Fargo’s Home Loan Workbench is an online tool that can help you find the right mortgage to fit your needs. You can compare loan scenarios and request a free consultation.
For more financial tips and information, visit wellsfargo.com/mortgage.