Investment mortgage rate vs commercial mortgage rate

[Samarth Patel]

Hi everyone,

I have investment mortgage with credit union. I want to transfer my property under LLC

But credit union refuse to transfer it to LLC and they ask me to take commercial real estate loan for my rental property if I want my property under LLC.

Question:

1.) mortgage rates are different for commercial real estate loan compare to investment property mortgage?

2.) Since LLC count as business should I look for commercial real estate for my rental property?

How you guys get mortgage for rental property under LLC?

Thanks,

S

[Steve Morris]

Not sure, but usually as long as the LLC members match the people on the loan, it isn't an issue.

Usually the diff resi/comm with over/under 4 units as collateral.

Ask your Credit Union for more detail, since I'm not a lender.