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Updated about 6 years ago on . Most recent reply
Investment 203K type mortgages?
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!
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@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.