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Updated over 4 years ago,

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George Manuel
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VA Home Loan + LLC + Revocable Land Trust

George Manuel
Posted

I purchased a home in Norfolk VA using the VA loan some time ago. I'm interested in purchasing another home in the area but I don't want to sell the one I have and I want to maximize my borrowing power. Because of some other ventures I already have a registered LLC in VA. If I were to create a Land Trust for my property and assign it to my LLC:(1) would the Mortgage show up on my personal credit or would it be payable by the LLC? (2) Are there any legal pitfalls in your experiences that I should be aware of?

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