Mortgage broker says property must be in my PERSONAL name, what?!

[Account Closed]

I'm looking to branch out into buy and hold rental properties in my area. Found what looked like a decent deal, that is until my mortgage broker told me I can't get 30-yr residential mortgage because the property would be in an LLC. He said I can only get 20% down, 4.xx%, 30-yr residential mortgage if the property is my personal property. In today's litigious society, aint no way I'm putting a rental property in my name.

There are only two other options I've found, both were more expensive. The first was hard money, 30-yr amortization with 6.5% - 7.5% interest and 25% down. The other option was a local commercial lender with 4.75% rate, 20% down, but only amortized over 20 years and with a balloon at 5 years.

The monthly P&I for the two options was within $20 of each other. However, either option was significantly more than a 30-yr 4.75% mortgage. This killed the deal.

Where does one find a 4.xx% (or even a 5.00%) 30-yr mortgage for a rental property closed in an LLC? Does such a thing exist?

Other options and ideas?

I'm in an area where finding good deals on rental properties is very challenging which makes financing even more critical.