Rental Property Investor · Clarksville, TN · Member since 2019 · 39 posts · 15 votes
Utilized a local bank to open a business account when purchasing a rental at the beginning of the year. Bought property under LLC and paying higher rate as commercial. Did a 7yr am over 20yrs. Looking to refi this property to a longer fixed term with lower rate, like conventional. What are my options?
Can I even refi a commercial into a conventional given it's under LLC? LTV is roughly 70%.
Google had too many options on refinancing commercial properties into a portfolio or commercial to commercial, etc.
Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
6y
If title is held by a LLC, you have to go commercial, @Chris M. Talk with some local credit unions, they usually have very competitive terms and are willing to work with you.