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Updated about 6 years ago on . Most recent reply

User Stats

9
Posts
1
Votes
Thomas M.
  • Niagara Falls, NY
1
Votes |
9
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Investment 203K type mortgages?

Thomas M.
  • Niagara Falls, NY
Posted

Hello everyone, new to the discussion board and to investing real estate in general. Just trying to soak in as much as I can and read up on what ever I can. This might be a bizarre question and frankly not even make any sense but is there a 203K loan for LLC real estate investing. I know a 203K loan requires the owner to be the primary resident. But is it possible if said primary resident was part of an LLC that the mortgage was under? I know banks frown upon giving out mortgages to LLCs but do usually if there is a personal guarantee from a LLC owner/ share holder. With this being said is it possible to have a 203K type loan under an LLC if the personal guarantee is also the primary resident? I haven't dug to much into this and I'm still trying to read up on other threads on this. Curious if there were other options besides commercial loans.

Thanks for the help!

Most Popular Reply

User Stats

111
Posts
84
Votes
Tahra Wright
  • Flipper/Rehabber
  • Westfield, NJ
84
Votes |
111
Posts
Tahra Wright
  • Flipper/Rehabber
  • Westfield, NJ
Replied

@Thomas M. I heard that Fannie Mae has something they call a homestyle renovation loan, that is similar for investment properties, but I' not sure if they lend to an LLC or just to you personally for investment.

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