Fremont, CA · Member since 2017 · 28 posts · 8 votes
I have 3 investment properties in Indy. Now I am exploring to buy residential property through LLC. Since it's a newly created LLC, there is no revenue history yet. I am considering paying off one of my properties to move it under LLC and wait some tine to accumulate some revenue history, but this takes time.
I am wondering if there is any lender that can provide loan to LLC to buy residential property. Please share your experience and any suggestion would be appreciated.
Hi @Aries Li, Conventional lenders do have non-QM products that lend out to companies as long as it meets their criteria. You will most likely see a higher interest rate and a lower loan to value than if you were to get a loan in your name. You could always check with a few lenders and see if you can get a loan in your name and tell them you plan on transferring it into the LLC's name and see if they will allow it. (they have the ability to call the note due when it is transferred so be careful)
I have 3 investment properties in Indy. Now I am exploring to buy residential property through LLC. Since it's a newly created LLC, there is no revenue history yet. I am considering paying off one of my properties to move it under LLC and wait some tine to accumulate some revenue history, but this takes time.
I am wondering if there is any lender that can provide loan to LLC to buy residential property. Please share your experience and any suggestion would be appreciated.
Lots of DSCR lenders/brokers here on BP can help you with that.