Good afternoon all,
I was curious to see what type of options are available for properties that do not have a mortgage but are owned in an LLC. Thanks!!
In regards to a refinance? Most lenders should have an option for you to pull cash out, especially if you owe 0 on it.
Hey @John D. . Commercial/Private lenders will allow you to vest title in an LLC no problem. A lot of things go into how the pricing/terms are structured but just know that you have options to cash out as high as 75% with a commercial lender and still get a 30 year fixed mortgage with title in your entity.
@John D. If you have owned the property for a year, there are options for cashing out on the property, that I am aware of. Rates will be higher than conventional. There are fixed rate and adjustable rate options. These products typically have minimum loan amounts of $100k, but you may find lenders that will do less.