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Updated over 4 years ago on . Most recent reply

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Tammy R.
  • New to Real Estate
  • New Jersey
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Financing under an LLC

Tammy R.
  • New to Real Estate
  • New Jersey
Posted

I have heard that it is tough to get financing under an LLC and to borrow as an individual. Is this true? Can anyone shed light on this?

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Kenneth Garrett
  • Investor
  • Florida Panhandle/Illinois
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Kenneth Garrett
  • Investor
  • Florida Panhandle/Illinois
Replied

@Tammy R.

I have a number of loans taken out through my LLC. You will still need decent credit 680 or so. It's a commercial loan so the rate will be higher then a residential loan. No worry about DTI since it's commercial and doesn't show upon your personal credit. You'll definitely need to call around to confirm LTV. Many have dropped from 75% to 70% and some down to 60%. I actually find the process easier then the residential loans.

  • Kenneth Garrett
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