Quitclaim deed in Arlington Heights IL 60005

[Adriel Cisneros]

Hey folks! 

I (grantor) own a single unit rental property in Arlington Heights with the intent to quitclaim the deed to my IL LLC (grantee).

Here is my ask:

I need an attorney to both review the due on sale clause on the Deed of Trust and serve as the registered agent for the IL LLC.

[David A Lisowski]

@Adriel Cisneros

That's correct. You will not be able to refinance into a conventional loan using an LLC on title. Government-backed loans (FNMA, FHLMC, FHA, VA, USDA) do not allow LLCs.

So if you transfer title to LLC, then go to refinance, you will have to transfer back to your personal name in order to close the refinance loan.