Updated almost 6 years ago on . Most recent reply
Can you refinance a Duplex that is under an LLC?
Hi, I have a Duplex in Los Angeles. It is under an LLC. My lender says I can't refinance since it's under an LLC. Both units are occupied by tenants. Is there another way that I can refinance? Thanks
Most Popular Reply
Best way to refinance this, is to put title back in to your personal name. Then refinance using a Fannie Mae loan for the best terms. Then once complete, transfer title to the LLC that the borrowers are the majority members of. Fannie Mae made a change to their rules on 6/1/2016 that now allows this without it triggering the due on sale clause. See the guideline below:
