Conventional Loans with an LLC

[Patrick Butler]

I am getting my lending relationships setup, so that I can do my first Long Term Rental. While talking with a broker, he let me know that if we do a conventional loan, I will need to personally close the loan and then we will simultaneously transfer title to the LLC. At that point, I will personally be on the loan but my LLC will have title to the property. Is this the standard practice for conventional loans? If not, how are you structuring your loans when you are using an LLC?

My goal is to keep the payment as low as possible by using conventional lending, but mitigate my risk by using the LLC. Im worried that by having my name still on the loan, I increase my personal risk and may be more likely to have someone come after me, bypassing the protections of the LLC, should something happen.

You guys have been great so far, so that you again for helping out a Rookie Investor.