Mortgage or heloc on a rental property in an LLC in south Jersey

[Greg Torian]

Hi all, seems I'm having a problem applying for a heloc or a mortgage on a condo that I purchased in an LLC . The LLC was started in August of 2019, and I purchased the 1 bed/1 bath condo in Galloway in February of this year - and completely remodeled it. I'm being told that I have to have the business for at least 2 years to qualify for the mortgage or home equity line of credit. I already own a duplex ( with a mortgage), another condo ( with a heloc) - both are in my name, not an LLC. With these difficulties, is it even worth having it in an LLC ?

Any suggestions would be greatly appreciated.

Thanks