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Reply with quote | #1 |
I am a young first time investor in the early stages of setting up my investment strategy. I was talking with a Mortgage Broker today about getting pre-approved for a loan and I told her how I plan on setting up an LLC to hold the property. She then informed me that a fixed rate mortgage does not apply to someone like me who is planning on using an LLC. She said she was going to do some more research and see what she could find, but the rates would probably be higher. This was a surprise to me and I am wondering 1: why that is and 2: what is a good type of mortgage for use with an LLC? |
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Reply with quote | #2 |
We suggest talking to other brokers, as well as brokers that deal with LLC loans such as llcloan.com. Also you could purchase the home in your own name and then after you have closed you can transfer the property into your LLC. If you'd like to talk more about this please give Corporate Direct a call at 800-600-1760 or to speak with an attorney, please call Sutton Law Center at 800-700-1430. |
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