John Edwards has proposed to his mistress Rielle Hunter, and is buying a luxury $3.5 million beachfront home where they can live happily ever after with their love child, The ENQUIRER has learned exclusively.

The disgraced presidential candidate popped the question at the same time he told Rielle that he'd be issuing a press statement finally confirming he fathered her daughter Frances Quinn, close sources told The ENQUIRER.

Edwards, 56, released that statement on Jan. 21, and just six days later a spokesperson for his cancer-stricken wife Elizabeth confirmed the couple had legally separated after 32 years of marriage. Sources say they expect to be officially divorced within a year, paving the way for the ex-senator to make Rielle, 45, his wife.

"John dropped the proposal bomb on Rielle shortly before he issued his statement" that he was indeed Frances' father, a close source divulged.

"John knew Rielle had been waiting for a proposal for two long years. Since they've gotten involved, she's followed every order he gave her, going on a cross-country cover-up, hiding away during her pregnancy and after giving birth for the sake of his presidential aspirations.

"Rielle never uttered a peep about their affair publicly, and remained loyal to John. John felt she deserved to know that he wanted to raise their child together, and wanted Rielle in his life as his partner.

"John has said that when his divorce is final, he'll buy her a diamond ring. But in the meantime, he's getting them a house."

Another source told The ENQUIRER: "John has proposed to Rielle, and she said yes."

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