Using LLCs to Purchase or using Quit Claim Deeds?

[Leigh Jones]

My current mortgage guy says I can't buy a rental house under an LLC. Has to be my name. Do I just need to find a different bank that will allow it? Or do no banks allow it?

I could also do the Quit Claim Deed after the fact. I'm apprehensive of having the Due-on-Sale be triggered, and/or being forced to re-fi.

What are people's experiences - have you been allowed to buy a Single Family under your LLC? Have you ever heard of a Quit Claim Deed being triggered?

*Note: I currently have 1 rental property in my name. I am planning on transferring to LLC. Secondly, I plan on buying more, and was really deflated to hear I can't purchase under an LLC. Again... not sure if its a bank-to-bank thing or if all banks do that.

Thanks in advance for your insight.