Refi into personal name, or stick with LLC?

[David S.]

I have a duplex in St. Paul that is owned by my LLC with a mortgage and a second tied to it both at 5.5%. They're coming due in September, and I am trying to figure out the best options. My current lender quoted me 8.25% with a 5 year term and 30 year amortization.

The payment increase isn't too bad with the refi, but I hate paying $5k+ in closing costs every 5 years. 

I'm thinking I should look at just putting it in my name and doing a conventional 30 year in my own name. I'm not hitting the 10 properties limit any time soon, so I don't see a good reason not to. Am I missing anything?

[Andrew Freed]

@David S. - You get the best terms when you do a mortgage under your name. I'd definitely consider this. If the liability concerns you, obtain the max liability coverage on the homeowners insurance (I get $1 mil) and purchase an umbrella policy for additional coverage.