Non-recourse loan suggestions

[Larry Zucker]

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?

[Nick Conley]

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.

[Erik Estrada]

Quote from @Larry Zucker:

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?

 There are a few posters on here that offer non-recourse loans. 

[Nick Belsky]

@Larry Zucker

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!

[Larry Zucker]

Quote from @Nick Conley:

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.

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