Conventional loan vs business loan

[Christa P.]

I have an LLC. I have made on offer on my first property. And I secured financing. But I am just realizing I can't finance under my name but title house under LLC. I don't want to pay higher interest with business loan. But don't want personal liability on rental. Help!

[Darren Eady]

It's a common problem and question for investors. If you are going to use conventional (bank) financing, it is likely you will qualify and title the property to your personal name and then quit-claim deed the property from your personal name to your LLC after the loan is in place. It's pretty commonplace. There are some conventional lenders that may allow the deed to go directly to your LLC at closing. Just be upfront with the lenders you speak with about your intentions and they'll lead down the right road.