Getting a loan with LLC

[Shonari Wynter]

Hello BP,

So I know the different ways you can get a loan when buy a home under your name. FHA, conventional, private, HM etc. If I get an LLC how do I go about getting loans? I know HM for sure but can I get conventional? What are the options are out there for LLC?

[Julee Felsman]

Hi Shonari,

It is possible to to get conventional loans both directly in the name of an LLC or in your name, with the ability to transfer to an LLC after closing. The latter offers better loan terms (standard conventional loans can be had). The former are portfolio options that tend to carry higher rates (but not as high as HM) or may only be available as adjustable rates.

Good luck!

Julee