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Updated over 3 years ago on . Most recent reply
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Refinancing on properties with conventional loans
Hello,
I have a handful of properties that were financed with conventional loans in my own name which have since been deeded to an LLC. Do commercial lenders look at the existing notes on properties and allow a refinance in the new owner's (LLC's) name? I have 2 goals:
- Optimize and rebalance rates and terms on the package of properties. The conventional loans were done a year prior to the huge drop in rates.
- Possibly buy another property with the remaining equity
Did I create a mess for myself by deeding the properties to the LLC before working with a commercial lender?
Thanks for your input!