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Updated almost 7 years ago on . Most recent reply

Account Closed's profile image
Account Closed's profile image
Account Closed
  • from Lexington, KY
  • Member since Jan 12, 2018
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • from Lexington, KY
  • Member since Jan 12, 2018
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Account Closed
  • Lexington, KY
77
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169
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Private Lending & Conventional Mortgage Advice

Question about refi with LLC

Account Closed
  • Lexington, KY
Posted

If you cash out refinance your personal home which is under your individual LLC, and the loan is under your name and not the LLC, will rates and terms be the same if it is not under an LLC?

Looking for favorable terms.

I was advised it would be the same since the loan is under my name and not the LLC.

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Brian Garrett's profile image
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Brian Garrett
  • Real Estate Investor
  • from Palm Beach County, FL
  • Member since Mar 24, 2017
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Brian Garrett's profile image
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Brian Garrett
  • Real Estate Investor
  • from Palm Beach County, FL
  • Member since Mar 24, 2017
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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
Replied

The rates will be higher if you cash out refinance under an LLC.

The conventional Fannie/Freddie programs do not allow LLC's.

Unfortunately they have the best rates and terms.

Refinancing under an LLC will require a commercial loan.

Those rates and terms will be less favorable than conventional.

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