Ben Affleck takes out mortgage

Ben Affleck has purchased a $20.5 million home in Los Angeles amid his impending divorce from Jennifer Lopez, taking out a $10 million mortgage for the property. Located in equestrian-friendly Sullivan Canyon and adjacent to Diane Keaton's home, the five-bedroom residence was bought on July 24, coinciding with Lopez's 55th birthday. Affleck secured a 30-year mortgage from City National Bank with an initial fixed rate of 6.6 percent, leading to monthly payments of approximately $140,000, which will increase after five years. This acquisition marks Affleck's second mortgage within a year, as he previously took out a $20 million loan related to a Bel Air mansion, which is currently on the market. The purchase was handled through a trust managed by his long-time business manager, Gary Kress. The new property, dubbed 'Paradise Found,' is set on nearly two-thirds of an acre with gated access and mature olive trees.