Updated about 5 years ago on . Most recent reply
Financing under an LLC
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
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Kenneth Garrett
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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.