US President Donald Trump took out more than $5 million mortgage in 2018.
Report informs citing the RIA Novosti that the financial disclosures were made by the Office of Government Ethics states.
The annual report shows a mortgage loan received from the Bank in the amount of 5 to 25 million dollars. According to the palm Beach Daily News, Trump's sons bought a house with nine rooms in Florida from one of the President's sisters for $ 18.5 million. According to Reuters, the amount of mortgage to buy the house amounted to 11.2 million dollars. However, it is impossible to say exactly what part of the loan is accounted for by Donald Trump, since the US President does not publish his tax return, which contains these data. In total, according to the report, Donald Trump has 14 loans, of which three are worth more than $ 50 million. In the US, even very rich people often take out mortgages. This is due to the fact that mortgage interest is usually lower than the potential return on investing cash. For example, a loan for a house in Florida issued Trump at 4.5% per annum, while the money invested in a business or stock, can give a much greater income.