Two Partner LLC for Rental Property. How to get a mortgage

[Jerome Sarath]

Me and my wife started an LLC to hold our rental properties. So two partners.

I know it is not possible to get a mortgage for an LLC that is only few weeks old. So we are thinking of personally guaranteeing the mortgages at least for a 2-3 year period.

Both of us can qualify for a loan independently. Is it possible for only one of us to sign a personal guarantee for the mortgage in the name of the LLC?

That way we can avoid risking everything.  If both the partners have to guarantee the mortgage, we are basically exposing all out assets.