Updated over 9 years ago on . Most recent reply
Newbie Question please help
Hello to anyone who can help,
I am looking at duplexes in the Detroit area to buy as an investment property to rent out. I have enough to put down 20-30% and would like to mortgage the rest. I have excellent credit. My question is... is it possible to get a mortgage in the name of a newly created LLC? Or if I get a mortgage in my name, is there a way to transfer it to an LLC? I want the protection of an LLC but my mortgage guy told me I can only get a mortgage in my name.... which scares me. Or is there other loans out there with similar interest rates to a mortgage?
Any thoughts or advice much appreciated.