Trump took out 30-year loan on $18.5 million home in 2018 via GingerGibson JuliaHarte1
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
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