Kim Kardashian became the wealthiest member of her family thanks to her Skims shapewear company. Her wealth was also greatly influenced by the popularity of the television show Keeping Up With The Kardashians. She isn’t one to hold back when it comes to spending her money. With that being said, Kim recently became the owner of a new $70 Million Malibu mansion and she reportedly took out a $48 million mortgage in order to purchase it.
The model made the deal with Britney Spears’ controversial former business manager Lou Taylor and took out a loan from the investment bank BNY Mellon. According to records obtained by the US Sun, the reality TV personality concluded such a deal in September of the previous year.
However, according to reports from the Mortgage Bankers Association, the national average rate for 30-year fixed mortgages with jumbo balances during that week was 5.56%, despite the fact that the mortgage’s specific terms are unclear.
The loan rate and structure, in fact, result in monthly payments exceeding $278,000, exclusive of taxes and insurance. However, the payments may change depending on the precise terms of the agreement, either increasing or decreasing.
Lou Taylor assisted the SKIMS founder with the purchase, according to mortgage records cited by the Sun. Furthermore, the company utilized to finalize the deal shares the same address as Taylor’s management company.
Regardless, Cindy Crawford and her husband Rande Gerber were the previous owners of this Malibu property. Besides that, the magnificent house is more than 7,000 square feet in size and has four bedrooms and five and a half bathrooms. It’s interesting that it’s only 14 miles from the $57 million house that ex-husband Kanye West just bought. Keep an eye on Thirsty For News to get the latest updates.
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