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Updated over 2 years ago,

User Stats

47
Posts
39
Votes
John Hernandez
39
Votes |
47
Posts

Transferring Loan to LLC?

John Hernandez
Posted

I have my first property in a personal conventional loan and have another property. When trying to pull out home equity via HELOC, the DTI was too high despite everything else looking good. I was thinking of how to move the mortgage out from under my credit. Would a Quit Claim Transfer take care of it followed by a refinance? Wouls it complicate the HELOC if I have it in my LLC (for property)? Is there a better way to reduce DTI so I can get my HELOC for purchasing additional property? How do people get past the 10 mortgage limit of Fannie Mae & Freddy Mac?

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