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Updated over 3 years ago on . Most recent reply

Tom Degroodt's profile image
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Tom Degroodt
  • from Evans, Georgia
  • Member since Nov 15, 2016
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Tom Degroodt's profile image
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Tom Degroodt
  • from Evans, Georgia
  • Member since Nov 15, 2016
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Tom Degroodt
  • Evans, GA
65
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Private Lending & Conventional Mortgage Advice

Can I buy my rental from my LLC?

Tom Degroodt
  • Evans, GA
Posted

We have a SFH on a commercial loan under a single member LLC. I would like to get it onto a 30 year mortgage. Since it needs to be in my name for a 30 year conv. mortgage, can I purchase it from my LLC ?

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    Chris Mason
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    Chris Mason
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    ModeratorReplied
    Originally posted by @Tom Degroodt:

    We have a SFH on a commercial loan under a single member LLC. I would like to get it onto a 30 year mortgage. Since it needs to be in my name for a 30 year conv. mortgage, can I purchase it from my LLC ?

     If you owned the property before the transaction, and will own it afterwards, it's not a purchase mortgage. It's a refi. 

  • Chris Mason
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