Beyoncé and Jay-Z Have a Mortgage, Despite Being Billionaires
- 6 years ago
Last year, Queen Bey and Hova bought a mansion in California for $88 million, but they didn't buy
it in cash. The powerhouse couple was financed
for $52.8 million by Goldman Sachs at
a fixed rate of 3.4% interest, which
becomes variable interest in 2022. 'The Wall Street Journal' estimates that
the monthly payments are over $200,000. With property prices rising and interest rates nearing historic lows, such a "superjumbo loan" would provide quite
the financial benefit to the mega-rich. Taking on a mortgage gives
the wealthy an opportunity
to use their millions for
investments elsewhere, Handing out mortgages to
the rich benefits banks too. Jon Maddux, CEO of FundLoans, to
'The Wall Street Journal'
it in cash. The powerhouse couple was financed
for $52.8 million by Goldman Sachs at
a fixed rate of 3.4% interest, which
becomes variable interest in 2022. 'The Wall Street Journal' estimates that
the monthly payments are over $200,000. With property prices rising and interest rates nearing historic lows, such a "superjumbo loan" would provide quite
the financial benefit to the mega-rich. Taking on a mortgage gives
the wealthy an opportunity
to use their millions for
investments elsewhere, Handing out mortgages to
the rich benefits banks too. Jon Maddux, CEO of FundLoans, to
'The Wall Street Journal'