Non-recourse loan suggestions
I am looking to finance the purchase of a long-term rental under an LLC. Any suggestions on lenders offering non-recourse loans in NC?
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Why non-recourse? While fairly common in commercial banking, not so common with DSCR loans mainly targeting 1-4 unit residential properties.
Most lenders who do offer it, use it as a way to charge you more for a "safety net" that doesn't really offer you any more protection that an entity or umbrella policy.
Cheers!
- Nick Belsky
- [email protected]
Hi Larry,
Most Non-QM lenders allow you to close in an LLC including DSCR. The question becomes what terms can you get with different type of Non-QM loans?
I am happy to give you a few quotes, feel free to reach out and we can discuss your NC purchase.
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There are a few posters on here that offer non-recourse loans.
- Erik Estrada
- [email protected]
- 818-269-7983
Why non-recourse? While fairly common in commercial banking, not so common with DSCR loans mainly targeting 1-4 unit residential properties.
Most lenders who do offer it, use it as a way to charge you more for a "safety net" that doesn't really offer you any more protection that an entity or umbrella policy.
Cheers!
- Nick Belsky
- [email protected]
Many lenders are requiring personal guarantees even on DSCR loans to LLCs which sort of removes the protection the LLC provides that is why am I asking about non-recourse for DSCR LLC loans