Seeking Lenders in Georgia

[Max Rieves]

Hello, I purchased a rental last December in 30080 in GA - I had my RE agent run comps and she said it is roughly worth 30-40k more than when I bought it. I own the home free and clear and want to refi and pull cash out for new deals. I have called some local lenders as well as put in online applications but have quickly realized that since my LLC owns the home and it is not owned by my personally that it will be a bit more difficult. I wanted to see if anyone had recently done a commercial/corporate refi and had any recommendations? It would be greatly appreciate if anyone could recommend lenders that would work with me? I was told by the first lender that I spoke with that I should be working with lenders who lend to "Corporate RE". Thanks!!

[Stephanie P.]

@Max Rieves

Max

There are numerous loan products out there for LLC owned properties. Many require no income verification. Try banks first and see what they can offer you. Most of the times, the rates are good, but there's something that holds everything up. A good mortgage broker will be able to get you something in the 5's on a 30 year fixed if your credit and the property will support it. Most of the time, the minimum loan amount is 75K and the property can't be rural.

Stephanie