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All Forum Posts by: Joshua Delzell

Joshua Delzell has started 1 posts and replied 1 times.

Goals, Business Plans & Entities

Post: Ginnie Mae & LLC Transfer

Joshua DelzellPosted
  • Accountant
  • Katy, TX
  • Posts 1
  • Votes 0

Hi all,

I am about to move and use my current house as my first rental property. I currently have a Ginnie Mae loan and I would like to transfer title of the house to an LLC. I reached out to my loan servicer to inquire about doing so, and received this reply:

We have reviewed your request to convey this property to an LLC and unfortunately, your loan does not qualify.

At this time we can only allow Fannie Mae loans to be conveyed to an LLC. The investor of your loan is Ginnie Mae.

I am not looking to transfer the loan, just the title of the property. I would stay personally liable for the mortgage. Has anyone here transferred a property with a GInnie Mae loan to an LLC before? Any advice is appreciated.

0 Votes