Financing luxury living: 8 celebrities who’ve taken out mortgages to fulfill their real estate dreams
Celebrities embrace mortgages: A look at 8 lavish real estate dreams
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
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
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
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
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
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, 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
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
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.
