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Updated about 7 years ago,
Transferring title to LLC
I currently own a 2 unit multi family that is owner occupied. I was looking into starting an LLC and transferring title via a Quick Claim Deed. I wanted to know if someone was against this idea. I was wondering if transferring this deed will allow me to be able to obtain another loan under my name. With the loan I have now, my DTI is too high. The loan is now a conventional loan with 75% Equity.
My goal is to be able to buy another home and obtain another loan, I currently can't with high DTI.
I'm still unsure on this because of the Due on Sale clause, but I wanted to know if it was possible to do as stated above.