Updated over 5 years ago on . Most recent reply
Holding Title in LLC
Does anyone know of a good bank that will refinance properties into an LLC in NC? I reached out to several banks in the area. I found a hard money lender that was offering 5.75% on a 30 fixed but all funds are currently frozen right now. The local/national banks would hold it as a commercial loan with 20 year amortization on a 5 year balloon. I want to avoid the 5 year balloon repayment/refinance option. I have thought about just transferring my current title from my conventional financing into my LLC but I have heard that they could call the loan due if I do this. Our goal is to get our 5 properties switched from our names into our LLC.
Thank you,
Brandon