Updated over 7 years ago on . Most recent reply
LLC mortgage then buy Personal Residence
My wife and I are set to close on our first purchase in 2 weeks. We would also like to set a contract to build a home with a personal mortgage as well. Does the LLC loan count against our ability to qualify for a personal residence? The LLC loan is a commercial loan from a local bank. Going conventional financing route for the personal residence.
Thanks in advance for your help.
Most Popular Reply
Jeff Goff the LLC loan will not show up on your credit report so it's up to you if you want to list the property as an asset and debt as a liability on your personal financial statement when you apply for your primary loan. Good luck