@Philip Ganz There are many banks that will allow you to close in an LLC, but generally you would be looking at a commercial loan rather than a 30 year fixed residential loan that you may be thinking or asking about.
Usually a commercial loan is going to have a shorter term like 20 (or 25 years if you are lucky), and will usually adjust every five years or so. And you can expect that all the members of the LLC are going to have to sign personally anyway.
All that being said, I have worked with and had good experiences getting commercial (LLC) mortgagees with Navigant, Pawtucket Credit Union, Washington Trust and Coastway (which is now called HarborOne).
(I don’t know if this is generally true or just my experience, but in my mind it is as much about the particular loan officer as the bank in general as far as speed, level of attentiveness, etc.)
@Philip Ganz There are many banks that will allow you to close in an LLC, but generally you would be looking at a commercial loan rather than a 30 year fixed residential loan that you may be thinking or asking about.
Usually a commercial loan is going to have a shorter term like 20 (or 25 years if you are lucky), and will usually adjust every five years or so. And you can expect that all the members of the LLC are going to have to sign personally anyway.
All that being said, I have worked with and had good experiences getting commercial (LLC) mortgagees with Navigant, Pawtucket Credit Union, Washington Trust and Coastway (which is now called HarborOne).
(I don’t know if this is generally true or just my experience, but in my mind it is as much about the particular loan officer as the bank in general as far as speed, level of attentiveness, etc.)
I've closed about 20 commercial loans in Rhode Island through my LLCs. There was only one time that I had a bank who gave me a problem but even they have improved since.
I've worked with Bank Rhode Island, Pawtucket Credit Union, BankNewport, Coastway, and Webster
@Philip Ganz I've had good experiences on the commercial side with BankNewport, Pawtucket Credit Union and BankRI but would strongly recommend having a chat with Freedom National. They have a very small footprint but the counterpoint is they bring a strong level of service to their delivery. I work directly with their SVP of Commercial Lending, Laura Stack and would be happy to make an email intro.