Financing a single family home for a rental
I have a single family home under contract that would cashflow really well with a 30 year note, and the market interest rates, but unfortunately my local Credit Union is saying because it will be a rental that I will need to have a commercial loan instead of a traditional and it will end up being a 20 year note, which is fine for my cashflow if I rent out mid-term. But if I rent out long-term, (backup plan) it doesn't work at all...
What are the options for financing a single family rental under my LLC?
Most Popular Reply
When you are doing your calculations, what is the interest rate that you are using? A DSCR loan could be a great option if you are holding under an LLC but I'd be curious as to the interest rate that you need for the deal to cashflow for you.