Partnership LLC trying to get a Mortgage

[Gray Dyer]

Any suggests/advice on getting a mortgage under an LLC, I understand it can be difficult and would like to find out the best way to go about it. Thanks.

[Robin Simon]

DSCR loans are probably your best bet, similar rates to conventional (about 50-75bp higher), but LLC friendly (even preferred) and much less documentation/easier qualification

[Tracy Tippett]

Suggest you work with a commercial loan broker. These companies are specialists in the type of lending you are seeking. We actually require properties to be held in an entity. Examples can be LLC, Partnership LLC, PA, S-Corp, and Corporation, there are others, and it is a good idea to seek competent legal counsel before forming a specific entity type.

There are literally dozens of lenders who would be willing to work with an LLC

Tracy Tippett

Lending Specialist 

[H. Jack Miller]

It should not be hard, but the lender will look for personal guarantees from the partners

[Andrew Postell]

@Gray Dyer as mentioned above this is completely possible.  Usually these types of loans come from a smaller, local lender but a few large lenders have them too.  No national, publicly traded banks though.  They would be out.  If you need some help trying to find good lenders in your area I wrote a post on Bigger Pockets that you can read HERE.  That might help some.

[Kevin Post]

I work with several lenders that will do long term loans to LLCs in the area. Feel free to give me a call if you need some recommendations