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%.
To put that into perspective, that’s roughly 40% of the July median sales price — $610,000 — for single-family homes in Los Angeles County, according to CoreLogic. It’s also about $50,000 more than the U.S. median home value of $200,400, according to Zillow.
Source: Jay-Z and Beyoncé land a $52.8-million mortgage for Bel-Air mansion – LA Times
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