Entity-Granted Loans from Lenders

4 Replies

Hi again. I recently read that banks don't allow entities to take out a mortgage loan, specifically LLCs. Apparently, there is a 'loophole' that allows the title to be transferred from the buyers name to the LLC, but it may present a 'Due on Sale' clause. Is anyone familiar with the likeliness of this happening in Nevada. In other words, will the transfer ALWAYS attract a 'Due on Sale' clause?

@Kayla Holbert  You don't have to transfer title to individual name before you start the process of refinancing. You can quit claim at the closing or before depend on the lender requirement. 

@Kayla Holbert According to guidelines you can't close on LLC name nor in purchase or refinance. Transferring the title after closing has different guidelines.

D1-4.1-02: Allowable Exemptions Due to the Type of Transfer (11/08/2017)

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