Updated over 2 years ago on . Most recent reply
Loan Question: Transferring my residential home property to an LLC
Hello All!
New to this game and this site! Looking forward to the ride. My question is that I'm moving from my current single family home to a new residential single family home. Planning to rent out Home #1, but would like to transfer the loan from my name into my LLC's name.
The question is in anyone's experience, does this create a brand new loan or does the loan stay the same (Just the name on the loan changes)? The reason I'm asking is because I bought the house with 3.9% interest rate and was looking to try to keep the rate the same. Have not found much information on this. Would I pay for closing cost again?