waiting period on refi when changing deed from LLC to personal

[Nathan Letourneau]

I bought a single family house in my LLC with the intention of fixing and reselling. I've since changed my mind and want to hold it as a rental. If I change the deed to my personal name in order to get a 30-year mortgage, is there a waiting period on how long the deed has to have my personal name on it or is that bank dependent?

thank you

[Andrew Bang]

The easy answer is no. But depends on your lender. When I've had properties in an LLC and the bank I'm using will give me a better rate if its in my personal name, the change is made on the day of closing, so no waiting period. Some banks/lenders have "seasoning" requirements. They want you to own the house for 6 months before refinancing, some lenders have loans that don't require seasoning. @Andrew Postell has a great product for this.