Buying 1st property financing question

[Christopher Henning]

So we are looking at buying our first property in Western New York. My question is....since we have formed an LLC should we try to finance it under the LLC or do we have to finance it ourselves then Quit Claim it to our LLC? I have heard both ways are possible, I have called Bank of America and they won't even deal with LLC's is this common?

Any help is appreciated.

Thanks!

[Account Closed]

My experience has been that the lender will make the loan to the LLC with you personally also on the note. They prefer you personally on the note.
meanwhile their are lenders, especially hard money lenders, such as my company (typically more expensive loans) that are open to making loans to the individual or the LLC but still prefer both. This is especially true if the LLC has no credit history. Hard money is usually a max of 60-75% of LTV. There is a member on here who is indicating they have 100% financing on commercial loans, pehaps they will make a loan to an LLC.