Investor · Saint Louis, MO · Member since 2016 · 970 posts · 1k+ votes
Hi All,
Just a quick question. So I understand you can only have up to 10 personal mortgages in your own personal name. However, I was wondering if opening an LLC (sole owner) will allow me to gain even more conventional mortgages?
Investor · Hummelstown, PA · Member since 2013 · 50 posts · 37 votes
9y
@David Zheng The quick answer is No I believe. All the banks I work with for LLC financing give me 15 or 20 year mortgages with fixed rate for 5 years. Currently for me between 4-5.5 percent based on quality and risk of the deal.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
9y
No. LLC's can't get conventional loans, period. It will be portfolio or commercial after 10. And to be clear, the limit is 10 "mortgaged properties", not 10 loans....10 properties with 2 mtg.s each counts the same as 10 properties with one blanket loan.