Mortgage in personal name for conventional and titled in LLC
I am considering the merits of refinancing a 12 unit currently in my LLC name portfolio financed to conventional financing in personal name for a better and longer interest rate. My concern is the loan being in my personal name. Do I lose asset protection doing this and would property now need to be titled in personal name? How do people do this when getting loans in personal name?
Most Popular Reply
You can not finance 12 unit with conventional loan. Banks will underwrite conventional loans for 1-4 units, 5+ is treated as commercial.
In addition, for larger multi-plex, not sure if you want to get loan into your person name. Typically we don't mix personal finance with LLC finance (maintain a wall). If wall is not well established, your personal assets could be held liable to liability from LLC