All Forum Posts by: Andre Delacroix

Looking to purchase a $110K townhome with existing HCV/Section 8 tenants ($1350 rent, $1000 govt $350 tenant) with my LLC.

Loan amount would be under $100k assuming I would be putting 20% down, unless a better option exists.

Any well recommended lenders? Close date preference 11/10/23 or earlier.

All the best!

One thing to watch out for here is prepayment penalty options - Pennsylvania is the state with the most vague/unclear rules on prepayment penalties that different lenders interpret differently, some may be able to offer standard prepayment penalties (i.e. 5/4/3/2/1) on a loan like this but some may not be able to charge a prepay, resulting in a much much higher rate.

Thank you Robin, yes I have came across this experience, how does Easy Street interpret it?

0 Votes

Hello BP community!

All the best!

3 Votes

Hello, this is my first post!

I am looking for creative financing on the following deal:

$110K single family home with HCV/Section 8 tenants ($1350 rent, $1000 govt $350 tenant) in good condition:

A personal mortgage loan is 8%

A commercial no-doc loan is 12%

Goal: Own as LLC, but pay the 8% rate...

Is there any lender who will give me a personal mortgage loan and then allow me to transfer title to LLC AND allow LLC to assume the personal mortgage loan at 8%?

1 Vote

Philadelphia, Pennsylvania

All Forum Posts by: Andre Delacroix

Andre Delacroix has started 2 posts and replied 3 times.

Post: Seeking DSCR loan for LLC under $100k in Philadelphia

Post: Seeking DSCR loan for LLC under $100k in Philadelphia

Post: Can a mortgage loan be assumed by an LLC?