LLC on existing property and future pre-approval

[Vasudev Kirs]

Hello:

Could someone please confirm? I am planning on closing an investment property `all cash` under an LLC name. I am planning to buy a 4bd 3ba house as a primary residence and will be applying for a pre-approval soon.

When I was talking to a lender today, he mentioned that if closing a property on LLC has no leverage or adds value to pre-approval. Infact, I would have to show tax returns on LLC for two years before I can include it in pre-approval. I am trying to get a pre-approval with higher limit and want to use the investment property I am buying to give me a better pre-approval.

Could someone please share thoughts?