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Updated about 4 years ago, 12/30/2020

User Stats

16
Posts
8
Votes
Jasmine G.
  • Philadelphia, PA
8
Votes |
16
Posts

Rental Property Financing

Jasmine G.
  • Philadelphia, PA
Posted

When you have a potential investment partner for a rental property, how do you typically finance the mortgage on the property that makes your LLC the owner on the title/deed and not you specially? For conventional financing, do banks typically offer mortgages to LLC+investment person? As a business owner, how would one not become "liable" for the mortgage, but the LLC? I'm having a hard time wrapping my head around conventional financing for rental property as a business owner. As I'm sure credit reports and asset review needs to be done to qualify for a mortgage, which is totally fine and all. I just need to figure out how to put the LLC on the title without tripping the "due at close" clause for conventional mortgage financing when switching ownership/title to an LLC.

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