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Updated about 3 years ago,

User Stats

33
Posts
6
Votes
Tim Henderson
  • Real Estate Agent
  • Arlington, VA
6
Votes |
33
Posts

STR 2nd home loan questions?

Tim Henderson
  • Real Estate Agent
  • Arlington, VA
Posted

Can someone help with these questions of mine regarding grand deeds and 2nd home vacation loans? I heard about buying STR's using a 2nd home vacation loan so you only have to put 10% down and post-closing do a grant deed to put your business partner on the deed but keep only yourself on the loan. Does anyone know if the grant deed can only be done with an individual coming on the title or can you deed the title into an LLC with this type of loan? 2nd Q - if I get an FHA loan, can I use a grant deed post closing to put that title into an LLC? 3rd Q - can any 1 person only get one vacation home loan? Like could you get a 10% vacation home at a lake, a beach, a mountain cabin, etc?

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