All Forum Posts by: Peter Hoang

Thank you guys for your help and advice!  Looks like keeping them completely separate is the safe and sure bet. 

Hello everyone,

I tried searching the forum for this answer but had no luck. I just got my first property under contract today and plan on BRRRRing it. I have my LLC already set up and am getting rates from two lenders - one conventional loan (if I put it under my personal name) and one commercial loan (if I put it under LLC). I am currently waiting to hear back my offered rates.

My question is if I go with the conventional loan and have the property under my name, can I simply just transfer the deed over to my LLC and still keep the mortgage under my personal name? The loan officer said the mortgage company does not care who owns the property, they just care who is making payments on the loan. Apparently I don't even have to tell the company that I am transferring the title. He says mortgage company still keeps the lien on the house regardless if its me or my LLC who owns it.

The reason I am asking this is because I would like to finance the property under personal name (due to better rates) and then transfer deed over to LLC (for liability purposes).

Does anyone have experience with this situation and can verify if this is accurate?  Sounds too easy to be true. Thanks!!