JENNIFER Lopez and Ben Affleck have taken out a $20million mortgage on the $61million Beverly Hills mansion they allegedly paid for in cash, The U.S. Sun can exclusively reveal.

After months of searching for the perfect home following their wedding in August last year, the showbiz couple finally closed on the luxury property in May.

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Ben Affleck and Jennifer Lopez reconciled after years apart and married last yearCredit: Getty

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Their new Beverly Hill mansion is 38,000 square feet and sits on a five-acre lotCredit: Mega
It was reported they’d paid the $60.85million purchase price in cash.

But now, it appears they have reconsidered their finances and taken out a colossal 30-year home loan with JPMorgan Chase Bank, according to contracts signed on August 31.

The 12-bed and 24-bath pad, which has its own indoor sports complex and parking for 92 cars, was bought through a trust fund linked to their business managers Gary Kress and Brian Murphy.

For the first six years, it’s interest-only at 5.5 percent, then the rate increases, but the principal and interest will not start being paid off until November 2033.

Despite taking out the loan, experts say it’s a sweet deal for the showbiz couple – as mortgage rates are running at a 22-year high.

Last week, it was announced that the average lending rate for a 30-year mortgage had hit 7.31 percent.

Before their purchase, the pair were shacked up at JLo’s Bel Air home, which she bought for $28 million in May 2016 and is currently on the market for $42.5million.

Records show that, in September 2016, the nine-bed, 13-bath mansion, with its own private beach, was also lumped with a mega-mortgage of $14million.

‘SMART MOVE’

That too was through JPMorgan Chase Bank with documents showing Murphy as the trustee.

The 30-year loan comes with an initial fixed interest rate of 2.5 percent for 10 years before it goes up at a variable rate.

Although it may seem odd for JLo, 54, and Ben, 51, to be loading themselves with debt, considering their combined net worth of $300million, experts say they’re being advised well to make use of lower interest rates.

Luxury Los Angeles realtor Tony Mariotti, CEO of RubyHome Luxury Real Estate, who isn’t connected to any of the deals, told The U.S Sun:
“There are a couple of reasons they might be using equity from their Beverly Hills property.

“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.

“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.”

TOP ADVISORS

The couple couldn’t get anyone better to help with their decisions than accountants Kress and Murphy, who prefer to be behind the scenes.

Their offices are in Santa Monica, and a Google search of the pair only brings up one page.

Property records show Kress and Murphy are linked to dozens of properties in Los Angeles owned by the movers and shakers of the city.

According to an old article in The Hollywood Reporter: “Kress is a secretive guy. So secretive that he refused to talk to THR for his profile, which is why we need to repeat the only known anecdote about Kress and his celebrity connections that we know — the time he enlisted the help of client Matt Damon and friend Mel Gibson to help Haitians.

“This year, THR can reveal that Kress’ company employs as many as 19 people who generate as much as $2.5 million in sales annually, according to business.com, and that Kress’ clients allegedly include David Schwimmer, Ben Affleck, and Denzel Washington — though Kress would not confirm or deny any of that, of course.”

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The mansion was originally listed in 2018 for $135millon meaning the couple got it at a steal this yearCredit: Mega

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Jen and Ben spent months looking for their perfect marital home before choosing the giant pad in Beverly HillsCredit: Getty