Local Mortgage Company Names - that will refinance under my LLC

Philadelphia, Pennsylvania
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Local Mortgage Company Names - that will refinance under my LLC

Ankit Lodha
Member since 2023 · 3 posts · 1 vote

Hi All-

I am looking to refinance my investment home in Philadelphia (I know in this market with high-interest rates), can you share a local mortgage company that will do it under my LLC?

Few background details 

1. Purchased the house under our LLC as seller finance with a ballon period that is ending soon

2. House has 42% equity and the remaining mortgage is for 58% of the current price.

3. Looking to swap the original mortgage from seller and put a traditional lender/bank in place  

Open for DSCR, or similar types of products. Thanks in advance for point in the right direction.

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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y

DSCR is going to be your best option.

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  • Brittany MinocchiBusiness Member
    Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
    3y

    As you've mentioned, DSCR would allow you to close in an LLC and is a popular choice for people with a balloon coming due. The biggest issue I see people run into as a fellow Midwesterner is the loan amount requirement - most lenders want a minimum loan amount of $100k, although there are a couple I know of that'll go down to $75k. Hopefully that helps a bit, feel free to connect.

    [email protected]330-354-6590
    Brittany Minocchi - Barrett Financial Group, LLC522 Reviews
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  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    DSCR is going to be your best option.

    1Reply
  • Eric Greenberg
    Investor · Philadelphia, PA · Member since 2019 · 618 posts · 430 votes
    3y

    There are a few local credit unions folks here like getting commercial loans through (PFCU, American Heritage Credit Union, etc). Id join the Philadelphia Landlords Connect FB group and ask/search since everyone in our group is local. 

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  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    3y

    @Gaetano Ciambriello can help you

    [email protected]267-767-0111
    Alan Asriants - New Century Real Estate 590 Reviews
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  • Brayden Hrycko
    Lender · Allentown, PA · Member since 2023 · 207 posts · 38 votes
    3y

    Hey @Ankit Lodha,

    There are plenty of lenders that can help you with that! Feel free to reach out. I'd be happy to give you options. 

    0Reply
  • Gaetano Ciambriello
    Lender · Member since 2021 · 277 posts · 150 votes
    3y

    Hi @Ankit Lodha I would be happy to chat! Shoot me a DM and we can connect.

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