Purchasing with an LLC Changes & What You Need to Know.

[Jerry Padilla]

Conventional financing requires the property to be in your personal name. 

Fannie Mae and Freddie Mac both have removed the continuity of obligation 

Now you must own the property for 6 months to transfer ownership from LLC to your personal name, to obtain conventional financing.

This eliminates delayed financing if you purchased with an LLC, and rate and term refinancing prior to 6 months.

If purchased and the period of time from closing is greater than 6 months with an LLC, you can change to your personal name at closing of the subject loan to obtain conventional refinance, cash out financing.

If you have no interest in getting conventional financing this won't affect you.