Refinance When Property is in an LLC?

[Nathan Felton]

I own an investment property in NW Indiana with a partner. After we purchased it, we put it in an LLC. Now that rates are much lower, we'd save $100/mo by refinancing, but banks are telling us that we can't without putting the deed back into our names, which we'd just love to avoid. Anybody know of any lenders who could help us here?

[Cameron Tope]

Hey Nathan,

I've run into this problem just last month. I transferred the deed into my name, refinanced, then transferred it back into the LLC. The lender didn't have any issues with it and it saved me a boatload in interest.

Hope that helps!