LLC mortgage vs Conventional mortgage
Hi Everyone,
We are three buddies starting out the investment together and have an LLCregistered.Now that we have identified the property to buy ,we reached out to AXOS and were given the option to take conventional and transfer the title after closing / take an LLC loan at a higher interest rate (1.5% more)
Should we go the conventional route and then transfer the title after closing ? Or stick with LLC loan ? .
Here are the questions we have on both the options for which we were not able find clear answers .
1.should all the three of us be on the conventional loan and then transfer the deed to the LLC?
2.If we decide to go with an LLCmortgage ,will three of us have a credit check run again which in case we rather do a conventional and transfer the deed ?
Also to grow the LLC in the long run where we are planning to proactively increase our portfolio which is the way to go