I have an personal FHA loan with a property and want to move it to an LLC. This is so I can free up and get another FHA loan and also utilize LLC benefits.
I believe I just need to Refi the loan and title to the LLC
What lenders are out there that can finance in California to make this happen? Also is there another strategy I am overlooking
@Danny Bejarano , great question! I would like to know this myself. I am following this thread if you don't mind :)
Hml lender could be an option and even a credit union that portfolios too.
@Danny Bejarano is the property an investment or primary residence?
@Kevin Moules sure no problem! Community Learning at its best
@Dan Gamache I bought another house that is to be my primary residence which is why I want this property to be an investment for me
@Danny Bejarano ...what's the equity position on the current property look like? If it's recently purchased and the equity position is still more than 80% LTV, you're likely going to have a hard time finding that refinance to an LLC. Credit Union/local bank is good to start but if they won't work, then you'll go portfolio. No matter what, the equity position is going to def be important. Do you have a tenant set up also already who wants to rent your current property?
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