Cash out refinance using LLC as owner

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Cash out refinance using LLC as owner

Kaushik Chatterjee
Member since 2018 · 6 posts · 1 vote

How to get cashout refinance for single-family home owned by LLC? This is the only investment property in my portfolio. The property was purchased with cash and now I am looking for cashout refinance. The property is in Texas.

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  • Matthew CrivelliBusiness Member
    Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
    4y
    Plenty of private lenders who can refi into an LLC for you. How long ago was it purchased? Within 90 days you can do a delayed purchase which would be a refi preformed based on the purchase price. 6 months + you would be able to refi at the current market value.
    [email protected]413-348-8346
    Freedom Capital Funding, LLC523 Reviews
    WebsiteView Page
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  • Kaushik Chatterjee
    OP
    Member since 2018 · 6 posts · 1 vote
    4y
    The property was purchased in 2019. Is the interest rate for the mortgage the same as taking it in personal name?
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  • Matthew CrivelliBusiness Member
    Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
    4y

    @Kaushik Chatterjee

    Rates tend to be higher on commerical loans. But you can expect faster close times, less borrower requirements and in some cases higher leverage. You also won't be affecting your DTI as the loan dosen't report to your personal credit.

    [email protected]413-348-8346
    Freedom Capital Funding, LLC523 Reviews
    WebsiteView Page
    0Reply
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