Fixed rate mortgages?

[Jacob Tracy]

Hello, I have a financing question for anyone who might have some insight. I recently signed a contract on a single family residence that I am going to be adding to my portfolio and have an investor who will be putting up the cash for the down payment. however I will need to gain financing to cover 80% of the purchase price. I have now talked with 3 community banks about financing this property in my LLC's name with a 15 or 30 year fixed rate but have been shot down each time due to it being an investment property. All banks are telling me that I have to go through the commercial lending side and the best offer they've got is a 20 term which would be 5 years fixed, 5 year adjusted, and a balloon for the last 10 years. I only want to have my properties titled in the name of my LLC (for security purposes) but can't seem to get a good fixed rate mortgage doing that. The banks are also saying that I can't take out a loan in my name and take title in the LLC's name, even though I am the sole member in my LLC. I know I've heard in the forums and on podcasts that investors are getting 30 year fixed rate mortgages, but how?