When can I Quit Claim Deed Primary Home Loan?

[Keegan Schaub]

Hi! I'm wondering if I have to wait one full year before I can quit claim deed a primary home loan into an LLC. Also wondering if I need to refi to do a quit claim deed this primary home loan?

I've heard you can lowers your DTI ratio for conventional lending buy transferring properties or buying them in an LLC.

thanks!

[Caroline Gerardo]

Wondering who told you that quitclaiming to LLC lowers your DTI (incorrect).

Wondering where you got the idea you should change the deed after a year. If you have a conventional loan there is Nothing in your note that says you can sell to your LLC (transfer deed is a SALE).

Transferring title to a LLC will have tax consequences like a sale (property taxes increase and there are transfer taxes).

Your property insurance is not going to line up. When you have a claim the check is written to your lender/servicer and you jointly. Is your adjuster going to give the LLC a check? no.

You can file the transfer deed any weekday the recorder is open but be aware of the consequences.