We own two vacation rentals in AZ. We paid cash and are looking to do cash-out refis. Nothing huge, a 50% LTV would be fine. All the lenders I've spoken to want us to change title to the LLC members individual names. I would really like not to be listed on these loans as I want to buy properties for myself outside the LLC and think this would hurt my loan-ability in the future.
Lender · Phoenix, AZ · Member since 2021 · 451 posts · 287 votes
4y
Non-QM products will allow you to keep the transactions within your LLC: DSCR, bank statement loans, asset utilization, etc... Feel free to PM with specific questions.
The issue with legal entities, such as LLC's, is that they are NOT eligible for conforming residential loans. You need to get a nonconforming loan product. Residential lenders have a couple of options, but its not their focus. You need to get some sort of "commercial" financing, i.e. non-conforming loans.