Wednesday, 23 August 2017

Aren't they billionaires combined? Jay Z and Beyonce secure a mortgage on their $88m new home

Superstars Beyonce and Jay Z bought a new home in Bel-Air said to be worth a whooping $88million and now according to new reports, the couple secured a mortgage to get the house.

From the L.A. Times
Jay-Z and Beyoncé may be worth more than a billion dollars combined, but the couple ultimately used conventional financing in order to purchase their first Los Angeles-area home.
The rapper/hip-hop magnate and his superstar wife, through blind trusts, paid $88 million for the sprawling contemporary estate, public records now show. Also revealed in the records is that the couple is carrying a mortgage amount of $52.8 million.
Plug that into any mortgage rate calculator (we happened to used Google’s search-based calculator) and that amounts to 30 years of monthly payments at $252,075 based on an interest rate of 4%.

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