Can you get mortgage on llc

[Casey Cu]

Hi, I'm Casey from Colorado.

I currently own a vacation condo that I rent on a short term basis. (approx 150 days a yr)

I run the rentals as an llc for everything, but I never got around to makeing the llc the owner of the actual property (is it quit-claim or quick-claim?)

So I want to get a mortgage on the property (i currently own it free and clear) but I'm assuming I should do the quick claim first and get the property to be owned by the LLC. Will that affect my ability to get a mortgage?

I'm getting the mortgage to buy another investment property.

casey

[N.A N.A]

Originally posted by "caseynshan":

Hi, I'm Casey from Colorado.

I currently own a vacation condo that I rent on a short term basis. (approx 150 days a yr)

I run the rentals as an llc for everything, but I never got around to makeing the llc the owner of the actual property (is it quit-claim or quick-claim?)

So I want to get a mortgage on the property (i currently own it free and clear) but I'm assuming I should do the quick claim first and get the property to be owned by the LLC. Will that affect my ability to get a mortgage?

I'm getting the mortgage to buy another investment property.

casey

Honestly, it's a LOT harder to get a loan if it's titled to an LLC. Your available pool of lenders and loan programs goes from 20 to 4. Those are made-up numbers but you get the drift.