Can't Place Conventional Loan Title in LLC?
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
@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.