Using Conventional Loans While Still Protecting Yourself

[Nicholas Newbould]

Good afternoon BP Family. Huge question for your all. My wife and I are looking at buying our first property this year. I have a question about using conventional loans. My wife and I both hold full time jobs and have quite a bit of income every month left over. Based on research, you cannot use a conventional loan with an LLC. Does that require you to own the home as yourself? What risks does that open you up too? Thanks for the insight.

[Russell Brazil]

You basically have 2 choices. Own the home in your own name but have much much better lending terms but with more risk. Or own it in an entity like an LLC and use commercial financing and have worse lending terms and higher inusrance costs but more asset protection.