My credit union has offered me a great interest rate for a secondary home.However, they stated that the bank will not allow me to put the property in an LLC, after the purchase.If I can purchase this property with a great interest rate, can I refinance, after a year, with a major bank, and place that property under a LLC?

@Caleb Heimsoth initially my goal, being a military veteran was to just jump head first and into rentals and get a 4 unit multi family using my  VA loan to finance it.

I have talked to a couple of local credit unions and either I got connected with the wrong person or they are not very generous on what they are willing to provide as each of them were not quoting very favorable terms.

I will certainly try to refinance it when it is completed, perhaps a portfolio credit union would be open to refinancing, if not, then I'd simply sell it.One caveat however, she owns the property free and clear.

Generally the same banks, credit unions, savings & loans, etc will all make commercial loans.

Except for small local banks and credit unions that keep skin in the game (portfolio loans), doesn't the bank want the loan to go through so they can flip it over to Wall Street for securitization?

I also wanted a city with more than one draw, like a town that's got both a military base and a college or it's known for it's tech and is also the county seat or state capital. 

@Ryan Mattson Yes, I was in the military stationed at Beale AFB, CA and the property I bought was in Marysville.

Start calling around to local banks and credit unions.

I used Delta Credit Union but they will only give me a 10 year amortization and they will only give 75% loan to purchase price (plus cost of work) regardless of how long I've owned the property.Thanks in advance!