I am having trouble finding a bank that will allow me to refinance a property that I own in an LLC. I want to purchase a property and rehab, but the banks will not allow me to refinance unless the investment property is in my name. Can someone recommend a bank that does allow that?
Any properties under an LLC would automatically make it a commercial loan but unless you deed it back into your personal property they would not permit you to use residential loans.
@Lien Vuong That makes sense. The only reason I want it in an LLC is to protect my personal assets from litigation.
Totally understandable why you would change to the LLC but those are some of the fine prints people don't necessarily disclose to you.
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