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Updated almost 8 years ago,

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6
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0
Votes
Chris Lucas
  • Fairview, PA
0
Votes |
6
Posts

LLC on title but personal mortgage?

Chris Lucas
  • Fairview, PA
Posted

Hello!

I have seen some posts around this topic, but nothing that definitively answers my questions.

I just talked with a lender that will provide a loan in my name, even if the title for the property holds the name of my (to be created) LLC. I will, of course, get this in writing and run it by my attorney, but always good to have more advice than less!

My questions:

  • Has anyone heard of, and/or had success with, this approach before?
  • Does the title company / title insurance company typically care that the loan is in my name as opposed to the LLC?
  • Are there other problems, either up-front or down-the-road, that this approach may cause? For instance, if they sell this loan to Freddie/Fannie, could I expect some issues?

Thanks!

Chris

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