Getting loans with an LLC--is it still possible

[Bienes Raices]

I've read about building credit with the LLC by opening accounts at Home Depot or Dun and Bradstreet. But the mortgage brokers I've called have told me you can't get a loan to an LLC. Furthermore they've told me they're not doing any HELOCs or loans on rental properties right now, it's too risky for them in this economy.

So has anyone succeeded at doing this (since the housing bust started)?

[Rich Weese]

I currently have a loan in the name of an LLC with a Texas bank. I'm in the process of refinancing it with a larger commercial bank. The new loan will be in the name of an LLC with myself signing as manager. This loan is fully assumable at the existing interest rate of 4.46% and will be a completely nonrecourse loan. It will carry a 30 year amortization rate all do in 10. I have the option of a 15 year balloon at 5.25%. The loan will be for $2.8 million. Rich

P. S. I should mention this loan is being arranged by a BP member and will let everyone know how this process goes.