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Updated almost 7 years ago on . Most recent reply

Christian D.'s profile image
Christian D.'s profile image
Christian D.
  • Real Estate Broker
  • from New York, NY
  • Member since Dec 25, 2013

User Stats

125
Posts
63
Votes
Christian D.'s profile image
Christian D.'s profile image
Christian D.
  • Real Estate Broker
  • from New York, NY
  • Member since Dec 25, 2013
Christian D.
  • Real Estate Broker
  • New York, NY
63
Votes |
125
Posts
Private Lending & Conventional Mortgage Advice

Closing in an LLC - Non-QM Lender

Christian D.
  • Real Estate Broker
  • New York, NY
Posted
I'm currently in contract on a property (2-4 unit) with a non-qm lender. Since this lender is not adhering to Fannie Mae guidelines, I am looking to close the property in an LLC. I was told by my mortgage broker he would need to re-price the loan (the loan was originally submitted using my personal name). My question is, if the loan is recourse, and I am personally guaranteeing the loan, why would the loan need to be re-priced? It's simply for asset protection purposes. Thanks, Christian
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