Can a mortgage loan be assumed by an LLC?

[Andre Delacroix]

Hello, this is my first post!

I am looking for creative financing on the following deal:

$110K single family home with HCV/Section 8 tenants ($1350 rent, $1000 govt $350 tenant) in good condition:

A personal mortgage loan is 8%

A commercial no-doc loan is 12%

Goal: Own as LLC, but pay the 8% rate...

Is there any lender who will give me a personal mortgage loan and then allow me to transfer title to LLC AND allow LLC to assume the personal mortgage loan at 8%?

[Devin Peterson]

Hi Andre,

These days, conventional and dscr loans are not too far from each other. I wouldn't go no-doc if you have a tenant. I would consider a DSCR cash out and close under the LLC that way. Seems like a solution that solves all problems.