Can I personally purchase a house from my LLC

[Logan Turner]

Ok weird question everyone, but I made the mistake of purchasing the last house into my LLC. So now I'm only qualifying for commercial type lending when I still can get more Fannie Mae loans (lesson learned) Transferring the title from my LLC to my own name will take about 6 months to season before I can do a cash out refi. I have 85k tied up in the deal. So I want to get it out to re-invest. Can I purchase the house in my own name, from my LLC, using a lender 30 year fixed rate financing? 
Assume i sell it for fair market price, and with 20 percent down, pay title insurance, appraisal etc. will a bank allow this? If not, am I able to sell the house to my Dad, who is not affiliated with the LLC in any way?

[Jared Bouzek]

@Logan Turner This is somewhat of a quirk in conventional underwriting guidelines, but I do know of a lender who will do a conventional Fannie Mae backed loan in this scenario if you are the 100% owner of the LLC and you quit claim the property into your personal name. They will allow you to cash-out under these circumstances with no seasoning. I have never run across another lender who will do this, because 99% of lenders interpret the guidelines to say you must season for 6 months. I know they will do it because I closed a loan about 2 months ago with this exact scenario here in Colorado and I'm about to do another one. Perks of being a broker. ;)

I'm not licensed in CA, but I may be able to hunt down a broker connected with this lender who will do the loan for you. Can't guarantee anything, but shoot me a pm if you want me to do some research for you.