Last Updated Jul 26, 2010 6:14 PM EDT
According to TMZ.com, Jesse James bought an Austin, Texas estate of 7 acres that's not too far from where his ex-wife Sandra Bullock has moved full-time with her new son, Louis.
If the photos and news reports can be believed, the house has 9 bedrooms, 7 1/2 bathrooms, a full gym, a pond with a lovely red bridge crossing over it, loads of outdoor space, a hot tub with a huge outdoor fireplace next to it, several balconies, a large swimming pool, a gourmet kitchen with a Sub-Zero refrigerator/freezer, movie theatre, and a master bedroom fit for a king.
And, there's a six-car garage where James can work on his bigger projects.
And the purchase price for this mega-mansion? A reported $1.98 million. That's less than half of what James and Bullock are hoping to get for their Orange County house. If he tried to buy this much house and land in Los Angeles, or Beverly Hills, you'd have to add a zero to the purchase price.
The good news for James is that mortgage interest rates for jumbo loans have recently plummeted. With enough of a down payment (James would probably need to put down anywhere from 30 to 50 percent), he could probably get a jumbo loan for about 5.5 percent, perhaps less.
That's not too bad for a jumbo mortgage.
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Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com.