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Updated almost 6 years ago on . Most recent reply

User Stats

198
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46
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Aaron Moayed
  • Real Estate Broker
  • Sacramento, CA
46
Votes |
198
Posts

Can't Place Conventional Loan Title in LLC?

Aaron Moayed
  • Real Estate Broker
  • Sacramento, CA
Posted

My mom's mortgage broker told her this:

"A conventional loan, Fannie, Freddie, or VA, FHA do not allow title into a LLC. Commercial loans (5 + units apartment buildings) allow it but not for residential. Or an Alt A lender allows it but the interest rate is much higher than a conventional loan."

in response to the question - How hard is it to obtain a mortgage loan with an LLC? Is he smoking rocks, or is this true? Can you not do a conventional loan with an LLC? All LLC folks here have Alt A or commercial loan?

Most Popular Reply

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4,876
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2,466
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
2,466
Votes |
4,876
Posts
Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

@Aaron Moayed, your broker is wrong (at least partially). Fannie specifically allows title to be moved into a LLC.

Send that link to your broker and then start looking for a new lender.

  • Jaysen Medhurst
  • Loading replies...