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Updated almost 9 years ago,

User Stats

3
Posts
0
Votes
Mark Davis
  • Property Manager
  • Waterville, VT
0
Votes |
3
Posts

refinanceing a rental property

Mark Davis
  • Property Manager
  • Waterville, VT
Posted

Hello, I built a house three years ago that I currently rent. My plan was to refinance into a 30 year mortgage and pull some equity out for my next real estate deal. My bank has told me that since I put the property under my LLC I can only apply for commercial loans with much shorter terms. Is this a common thing or is it worth looking at other banks for a normal mortgage?

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