Recommendation for mortgage lender who will lend directly to LLC

[Rob Wallace]

I'm looking to purchase a rental property in Cincinnati. My partner and I are unmarried and have set up an LLC with each of us as 50% members. We would like to purchase the property through the LLC with financing directly to the LLC.

We spoke with a credit union who said that would be possible; however the loan was not approved due to both of us being NY residents. The LLC is an Ohio entity with an agent located in Ohio, and we also have local property management. 

Is there any way we can amend our operating agreement/LLC structure in order to anonymize our addresses? Potentially a PO Box in OH for our addresses?

If anyone could recommend a lender who would be willing to loan directly to an LLC, that would be greatly appreciated!

[Robin Simon]

Quote from @Rob Wallace:

I'm looking to purchase a rental property in Cincinnati. My partner and I are unmarried and have set up an LLC with each of us as 50% members. We would like to purchase the property through the LLC with financing directly to the LLC.

We spoke with a credit union who said that would be possible; however the loan was not approved due to both of us being NY residents. The LLC is an Ohio entity with an agent located in Ohio, and we also have local property management. 

Is there any way we can amend our operating agreement/LLC structure in order to anonymize our addresses? Potentially a PO Box in OH for our addresses?

If anyone could recommend a lender who would be willing to loan directly to an LLC, that would be greatly appreciated!

You seem to be a perfect candidate for "DSCR Loans" - which are the typical option here for real estate investors looking to use an LLC vs. individual or some of the requirements you mentioned. LLC-friendly is one of the main advantages of DSCR

Sharing a few articles on the ins and outs of this option!

DSCR Loans: What Are They And How To Get The Best Terms

https://www.biggerpockets.com/...

DSCR Loans: How To Use Pro Strategies To Save More And Make More

https://www.biggerpockets.com/...

Multifamily DSCR Loans: A New High-Impact Loan Option For Real Estate Investors?

https://www.biggerpockets.com/...

12 Frequently Asked Questions (And Answers) About DSCR Loans

https://www.biggerpockets.com/...

8 More Commonly Asked Questions and Answers to DSCR Loans

https://www.biggerpockets.com/blog/eight-questions-and-answe...

What Documents Do You Need for a DSCR Loan?

https://www.biggerpockets.com/blog/what-documents-do-you-nee...