Can I get 30 year loans in an LLC?

[Mark Rygh]

I'm wondering If I can refinance my 20-year loans at 6% into 30 year loans at 4% if I'm in an LLC? I knew in the game and my bank requires 20-year loans at the business rate of 6%. I hear people talking about getting 30-year loans at 4%. If it's possible, how do I do this? Thanks so much!

[Albert Bui]

Originally posted by @Mark Rygh:

I'm wondering If I can refinance my 20-year loans at 6% into 30 year loans at 4% if I'm in an LLC? I knew in the game and my bank requires 20-year loans at the business rate of 6%. I hear people talking about getting 30-year loans at 4%. If it's possible, how do I do this? Thanks so much!

There are 30 year fixed loans for LLC's that are non conforming (not fannie and freddie/conventional). You will usually be paying a bit of a premium in rate usually 1.00-1.50% in rate premium but the advantage is the original note and deed/mortgage security instrument will be recorded in your LLC's name (no due on sale risk of LLC post closing transfer with a conv/fannie/freddie mortgage).

If you want the lowest rates possible then you may want to stick with the agency/conv paper and doing that post closing transfer after you've seasoned the agency note/mtg so that the lender can get a chance to package it up and sell it before you do that title transfer. If you transfer it prior to them selling the mortgages they may call the note because that may cause them to delay their ability to sell the note.