Name on the mortgage but deed in LLC

[Lorenzo Decaria]

Hi, I'm new to the forum and here's my first question.

I just acquired a rental property and paid cash. I'm looking to refinance it once I deed it in my LLC name. I'm contacting lenders to have a DSCR loan and they see no problem in doing it in the name of an LLC, but they want me to co-sign as a guarantor. The obvious question is, am I still going to be liable (aka piercing the corporate vail) in this case? Is there a difference in being a guarantor or being the borrower?

Thanks!

[V.G Jason]

LLC is only as good as you keep the separation. Don't let the LLC spend for personal stuff, don't mix up bank accounts. Keep accounts truthfully and recorded appropriately. Keep the LLC current. If you do that, the LLC should definitely be a liability barrier and expose you only to what's in the LLC.