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Updated almost 4 years ago on . Most recent reply

User Stats

5
Posts
2
Votes
Josh Staples
  • Rental Property Investor
  • Okinawa
2
Votes |
5
Posts

Sell property to multi-member LLC to restore VA entitlement

Josh Staples
  • Rental Property Investor
  • Okinawa
Posted

I know I cannot restore the VA entitlement through refi, unless I elect the one-time entitlement restoration. My understanding is that I have to sell the property and pay off the loan to restore entitlement.

I'm wondering if I can sell the property to a multi-member LLC (I'm a member) to have the entitlement restored? If I personally guarantee the commercial loan for the LLC, will the VA view this as a refi and not restore the entitlement?

I can’t seem to find the answer to these question, so I’d love to hear if someone has done this.

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