WASHINGTON - U.S. President Donald Trump took out a new 30-year mortgage on a sprawling oceanfront house steps from his own Mar-a-Lago estate in Florida, and it is sitting empty on the rental market, according to financial disclosures made public on Thursday by the Office of Government Ethics.
Beginning in 2023, the interest rate can be increased, but is capped at a 2-percentage-point increase a year, according to mortgage documents filed with the county.The financial disclosures are mandated by law and offer a peek into the president’s sprawling finances. Trump Model Management, which is described as a modeling agency, shuttered entirely. He reported about $715,000 from the agency in 2017 and only $547 in “residual” income.
FILE PHOTO - U.S. President Donald Trump boards Air Force One as he departs Washington for travel to Louisiana from Joint Base Andrews, Maryland, U.S., May 14, 2019. REUTERS/Leah Millis
Nice hair.
I took one out for 200k
How is that be possible for a 71 years old man to go away with $18.5 dollars
For all who says that’s what Billionaires do I beg to differ. They take loans for business purposes but why risk any issues on a Home? You can pay upfront and sell at profit if needed depending on market. Why risk an issue when you have the money? Explains his Bankruptcy History.
Obviously the huge worth of Trump was not big enough to cover a $18.5 million expenditure. Seems like pocket change to those with a lot of money.
To fund what!, for a supposed 'billionaire'!?
Americans will end up paying
Is that what we are supposed to do? Take out loans we know we won’t be around to pay back? Is that what makes the working class smart like trump?
Well his company did that is run by his kids. Nobody would give a man in his 70s a 30year loan.
So did I for my home. Are 30 year loans illegal now?
I bet he used his position to get a great interest rate, bankruptcies be damned.
If Trump really does have own money at all ? Wouldn‘t be surprised, if it were all loans. 🤔
Are we supposed to congratulate him? Just wondering...
So? Government provides loads of tax incentives for every occasion. Any thinking person would be stupid not to take advantage of them. Look at Tesla’s business model, which wouldn’t exist if not for US government subsidies.
So what
He’s an optimist
And ?
So what is the big deal? That peanuts compare to Hillary Rodham Clinton
And he spent how much of his own money to live in White House and work for free?
Who would loan a 71 year old man $18.5 million?
esm2e That just proves that as a criminal you can get lots of loans any time.
Interesting.
The rich don't buy things by cash. Why should you buy things with cash when the bank is ready to pay you in advance by asking you a little interest? The cash you take to invest in something else. ?
With reporting like this, is it any wonder your actions can affect the financial markets negatively.....misleading fact manipulation...
That is normal why you need cash when the bank give you credit loan ? Very nominal for business,
So?
OMG! Reuters found the smoking gun! Democrats should start impeachment proceedings immediately.
Sounds like someone has a cash flow issue and /Or isn't quit the mogul as proven by record billion dollar loss in ten years. This old sow is a con.
This is news, how?
That doesn’t sound like something a billionaire would do.
I thought he was a billionaire
AND! That is quite normal.
WTF
Who cares? Are presidents not allowed to purchase real estate or get loans?
When you politicize the courts, silence the press....it is much easier to steal....he's stealing NOW.
Really, this is headline news?
In 2018 you could get a 30 yr at 4%. If your personal funds return better than that, it makes perfect sense. Not really rocket science. And to think he passed the salt tax limiting his own interest deduction.
I’m more surprised that commenters here don’t know that Trump actually is making more money with the loan. Pays 4% interest and can use his money to make 8% in the stock market. That’s right, you should always have a mortgage until you die to make the most money...
He needs this house to store all the Russian kickback checks.
SO. CAN YOU GO DO THAT? LEARN
....bought the more than 10,000-square-foot (930-square-meter) house last year from Maryanne Trump Barry, a former federal judge.' Um, the same lady who happens to be related to who resigned her position rather than testify? THAT lady?
ewww...imagine having to look at that every day
Winning
If Trump has so much money, why would he need to take out a loan for that?
So........what has that got to do with anything
What is wrong with taking up a loan if you qualify and able to show that you will be able to add value with that investment?. I thought all the assets you see around including the technology on which you are running is a by-product of debt/equity finance?.
Sweet. The bank can hope the loan will be paid off when he's 102.
!U.S. President Trump took out 30-year loan on $18.5 million home in 2018! and..? in other news, PM Theresa May of the UK drinks a glass of water for lunch... big deal! try again reuters - and I think you're playing a bit fast & loose with the brand of 'Top News'
People’s stunning ignorance about real estate financial transactions on full display here...
I wouldn't advise anyone to take out a 30-year loan at any age, but who the hell gives one to a septuagenarian?
Trump is one thing for sure, that he’s the best conman that ever walked this earth.
'The Palm Beach Daily News reported that the president’s two adult sons, Eric and Don Jr., who are running his business while he is in office, bought the more than 10,000-square-foot (930-square-meter) house last year from Maryanne Trump Barry, a former federal judge. '
Christ people. WAKE. UP. $18 million is pocket change for a “billionaire”. A 30 year mortgage? Come on!
1. If Trump has so much money why does he need a $18.5m loan? 2. Who the gives a 30 year loan to a 72 year old?!!
The house of cards called the Trump Empire is on shakie ground. The implosion is imminate. The gushing out of money (profits) w/ his increase in debt! Con Don is hiding out in the White House. When u go Con Don do not even take the government paid 4 pencils!
Why the loan? Seems like pocket change for a “billionaire”.....
my guess is another tax scheme.
Again. Who cares?
Fake Trump borrows money and then declares himself a billionaire.
Now that’s illegal. Why is he buying homes while in office? How is the mortgage getting paid? That’s 100k monthly.
Seems like a great way to hide a bribe!
Trying to improve his credit score👍
Let’s see the returns he used to apply for the loan
He won't make it 5 years. Eat more McDonalds, trumper.
And.....!
Who cares?
Fraudster in Chief.
And this is top news why?
In the US? Or a country without an extradition treaty with the US?
So? People take out loans on homes all the time.
He didn’t get it for free, unlike some other politicians I know. Clever move Donald, pay low interest rates and use your capital to earn more. That’s why you are making the economy work 👌🏾
Why? He claimed he made 400 million dollars.
So?
So what
if he's so rich, why does he need a loan?
so
They give 30 year loans to 72 year old billionaires? How is this world a thing
Dump makes losing money profitable. That's been an open secret for about 30 years
Ok. He’s got it and can pay it back.
So, and your point is?
Will he be there for 30 years ?