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Updated about 6 years ago on . Most recent reply

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Chip Volke
  • Rental Property Investor
  • Plantation, FL
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Refi after hard money

Chip Volke
  • Rental Property Investor
  • Plantation, FL
Posted

If I purchase a property through my LLC using hard money, will a bank allow me to refinance through the LLC? I know banks do not usually approve financing for LLCs but I'm wondering if it's any different for a refi. Thank you in advance.

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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
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Brian Garrett
  • Real Estate Investor
  • Palm Beach County, FL
Replied

If you're refinancing with a conventional Fannie/Freddie loan they will want it to be in your personal name.

If you're refinancing with a commercial/portfolio loan then it won't be a problem keeping the property in your LLC.

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