Charleston Area Cash Out Refi

[Matt F.]

Hi all,

I have two properties in the Charleston area I want to refinance. Both are in LLC's. One I own and the other I owe about 45k. Both houses are worth ~$120k. I cannot find any lenders who will refinance a property in an LLC, it seems like my only options are to transfer title to my personal name and then wait 6 months. I don't mind transferring title, but I don't want to wait 6 months.

Does anyone have any ideas on how to solve this issue, or know of any banks that would lend on an LLC / or not require a 6 month seasoning?

thanks,

Matt

[Devin D.]

Originally posted by @Jason Merchey:

Hi Matt, I'm in Summerville. I believe that @Devin D. spoke of a lender recently who does this.

Speak with Heidi Finniff at CresCom here in Charleston.  It will be a portfolio loan so interest will be a little higher but I'm sure you can work something out.  If you only own 4 properties and no primary you might check out PenFed for HELOCs on them instead of Primaries if you prefer.