Updated over 12 years ago on . Most recent reply
HML rehab loan refi & LLC implications
The hard money lender that we are working with will only lend if an LLC holds the title, not me as an individual. Our exit strategy is to go for a conventional refi, but if title is held by an LLC I suspect conventional lenders will not want to lend to an LLC, especially one that was created within 3-6 months prior to refi application. If we do quit claim on LLC and take title on our name, technically the loan that we are refinancing is still on LLC's name - so is that not an issue to the conventional lender? Thoughts? Any suggestions on the best course to refi?