House Hacking and LLC's?

[Angelina McEwen]

Hello, Im planning on house hacking my first property and i've already gotten pre-approved by a lender but now im finding out that the loan has to be in my personal name. 

I want to have LLC set up in order to be protected as well as take advantages of the tax benefits.

Looking for advice

[Michael Delmont]

@Angelina McEwen I think the issue is with the type of loan you are requesting. If you want to use the LLC for the Title and loan a conventional with 20% down would be the way to go.

If you're looking for an FHA or other government backed loan with a lower down payment then they require it to be an Owner Occupied property.

While you could be living in the property, if you have title in the name of your LLC lenders look at that as investment property and you would be "renting" from the corporarion who actually owns the property as an investment.