Financing luxury living: 8 celebrities who’ve taken out mortgages to fulfill their real estate dreams

By Khushali Srivastava
Published on : 05:34 PST, Mar 16, 2024

Celebrities like Selena Gomez, Timothee Chalamet and Rihanna, all finance their sprawling properties with a mortgage (Getty Images)

Celebrities embrace mortgages: A look at 8 lavish real estate dreams

Kim Kardashian, Kanye West, and Rihanna are some of the celebrities who have opted for mortgages on their high-end properties (Getty Images)

Even the world's most affluent celebrities aren't averse to taking out mortgages to fund their opulent real estate aspirations. Here's a glimpse into the extravagant properties owned by some of Hollywood's biggest names and the mortgages they've secured:

1. Beyonce and Jay Z

NEW YORK, NY - JANUARY 28: Recording artists Beyonce, Jay Z and daughter Blue Ivy Carter attend the — Beyonce and Jay Z borrowed tens of millions of dollars for luxury home purchases (Getty Images)

The power couple, known for their opulent lifestyle, financed their $88 million Bel-Air mansion with a staggering $52.8 million mortgage from Goldman Sachs, showcasing their preference for leveraging financial instruments.

2. Meghan Markle and Prince Harry

Meghan, Duchess of Sussex and Prince Harry, Duke of Sussex attend the 2022 Robert F. Kennedy Human Rights Ripple of Hope Gala at New York Hilton on December 06, 2022, in New York City. (Photo by Mike Coppola/Getty Images for 2022 Robert F. Kennedy Human Rights Ripple of Hope Gala) — Meghan Markle and Prince Harry obtained a $9 million mortgage (Mike Coppola/Getty Images for 2022 Robert F. Kennedy Human Rights Ripple of Hope Gala)

Despite their royal status, Meghan Markle and Prince Harry secured a $9 million mortgage for their $14.6 million Santa Barbara estate, underscoring their financial strategy amid their transition from royalty to private life.

3. Rihanna

NEW YORK, NEW YORK - OCTOBER 11: Singer Rihanna attends the launch of her first visual autobiography — Rihanna saddled her Century City penthouse with a $13,650,000 mortgage (Getty Images)

Rihanna, the Barbados-born pop sensation, opted for a $13,650,000 mortgage at a 6.9% interest rate with City National Bank for her $21 million Century City penthouse in Los Angeles, demonstrating a calculated approach to property investment despite her immense wealth.

4. Timothee Chalamet

PARIS, FRANCE - DECEMBER 12: Timothee Chalamet attends the — Timothee Chalamet bought the Beverly Hills property from model Kate Upton and her husband Justin Verlander (Getty Images)

Even rising Hollywood stars like Timothee Chalamet resort to mortgages, as evidenced by his $5 million loan for a $10,980,000 Beverly Hills residence, emphasizing the widespread use of financing in the entertainment industry. The 28-year-old bought the property from model Kate Upton and her husband Justin Verlander.

5. Kanye West

Born on June 8, 1977, in Atlanta, Georgia, Kanye West, aka Ye, is a highly influential rapper and producer. His discography includes groundbreaking albums such as 'The College Dropout,' 'Late Registration,' and 'My Beautiful Dark Twisted Fantasy.' — After his divorce from Kim Kardashian, Kanye West was given their four-bed property, in Calabasas (Getty Images)

Kanye West manages a complex property portfolio, including a Calabasas residence which was given to him after his divorce from Kim Kardashian. While the property has a mortgage of $6.8 million since 2020, Kanye and Kim Kardashian also jointly borrowed $1.65 million previously – both of these mortgages, totaling $8.45 million, are now his responsibility.

6. Kim Kardashian

Kim Kardashian gets trolled after showing off Swarovski jewels (Instagram/@kimkardashian) — Kim Kardashian has racked up a collection of luxury homes through the years (@kimkardashian/Instagram)

Kim Kardashian, renowned for her entrepreneurial ventures, strategically employs mortgages to expand her real estate empire, exemplified by her recent $3.7 million loan for a property adjacent to her Hidden Hills mansion. Kardashian took out a $48.7 million mortgage to buy her $70.4 million luxury mansion in Malibu in September 2022.

7. Selena Gomez

WESTWOOD, CALIFORNIA - JANUARY 11: Selena Gomez attends the Premiere of Universal Pictures' — Singer Selena Gomez went to City National Bank for a $3 million loan (Getty Images)

Selena Gomez secured a $3 million loan from City National Bank for her $4,895,000 Encino estate, showcasing her prudent financial management and strategic utilization of mortgage financing.

8. Chrissy Teigen and John Legend

BEVERLY HILLS, CALIFORNIA - FEBRUARY 09: Chrissy Teigen and John Legend attend the 2020 Vanity Fair — Chrissy Teigen and John Legend recently upsized to a Beverly Hills haunt for $17.5 million (Getty Images)

Model Chrissy Teigen and musician John Legend acknowledge the benefits of mortgage finance, as confirmed by Teigen on Twitter regarding their recent $17.5 million Beverly Hills acquisition, highlighting the widespread acceptance of mortgages among public figures.

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