Second home loan clarification

[Alicia Hall]

Hello - 

My husband and I have a second home loan in Georgia (we live in OK) - how far does a vacation home need to be from other vacation home properties? Correct me if I am wrong, but I believe there is a distance requirement amongst multiple second home loans? 

Thank you

[Sheena Drake]

65 miles from your home. 10% down but technically not suppose to transfer to an LLC for STRpurposes. If you transfer out of personal to LLC the lender can claim Due on Transfer and require entire loan payment in one chunk. Leaving it in personal name indicates liability issues that can be tied to your personal assets. Going through this loan process now. You have to stay in the home at least 14 days out of the year. You can only have 1 vacation home mortgage per market. No one can tell me if "another market" is justified by another 65 mile difference or whether up to lender to decide

I'm contemplating moving title into LLC anyway and taking my chances on asking for forgiveness or selling if doe on transfer happens. Hot market in Branson area. I've heard from others in this market that they have successfully been allowed the transfer by asking permission rather than forgiveness. Thoughts?

By the way, I’ve never had so many questions and requirements for obtaining a mortgage.  I would like my kidney back