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There are celebrity couples, and then there’s Jennifer Lopez and her husband Ben Affleck. The pair are constantly making headlines, thanks to her long history together and A-list status. After Affleck and Lopez got married in Vegas, they’ve spent the last year blending their families and finding a home. Bennifer just took out a $20 million loan on a home they paid cash for, but an expert calls it a “calculated” move.
After a long search, Jennifer Lopez and Ben Affleck bought a home that could fit them and their kids comfortably. The pair spent millions in cash, but ended up taking out a mortgage of $20 million. This might shock fans, considering just how wealthy the pair is. But Luxury Los Angeles realtor Tony Mariotti spoke to The Sun about why this was a smart financial move on their part, offering:
The interest rate on a loan that’s secured by real property is lower than what they’d get on a personal loan. The interest is also tax deductible. They can use the funds almost any way they want, which would not be the case if it were an unsecured loan. For those reasons, it’s a smart financial move. This is a common tactic among the wealthy for the tax benefit. No doubt, they have financial advisors – or maybe they make their decisions independently – that consider their entire asset portfolio and start to calculate the best way forward for any given move.
Is anyone else’s head spinning? It’s hard to imagine having as much wealth as Bennifer 2.0 has, yet alone what it takes to properly manage that money. But it seems like they’re making sound fiscal decisions related to their home. And considering how big their paychecks tend to be, I wouldn’t be surprised if they paid off that mortgage early.
Affleck and Lopez’s search for their perfect home lasted months, and they were in escrow on a few different locations before landing on their mansion. Their house seems like the perfect place for JLo and Affleck to blend their families, as they’ve got room for their whopping 5 kids. Later in that same conversation with The Sun, Mariotti spoke about how the wealthy move their assets, saying:
By move, I mean any number of things like buying more properties, renovating existing properties, financing a project such as a film production. These wealthy people are generally making calculated decisions.
As previously mentioned, the pair seemingly have a number of sources of income. Lopez in particular is hustling, with her music career and as an actor/producer. She’s also got a number of businesses including a cocktail line, beauty empire, and more.
Both Affleck and Lopez are attached to a number of film projects. Be sure to check out the 2023 movie release dates to plan your next movie experience.