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Updated almost 5 years ago,

User Stats

28
Posts
6
Votes
Nam Hoang
  • Newark, NJ
6
Votes |
28
Posts

Conv SFH Investment Loan under personal name, but LLC paying it

Nam Hoang
  • Newark, NJ
Posted

Hi! I'm working with a small team, looking at various financing options for a fix and flip. Due to coronavirus, many banks are not offering portfolio loans, but they are offering conventional, SFH investment loans, which would be in a personal name, not the LLC. My question is this, if the conventional, SFH investment loan is in one of our names, can we a) put the rest of team's name on deed and b) can we pay for the mortgage through the LLC, and therefore be able to claim the mortgage interest deduction?