Legal entities are NOT eligible for conforming loans, such as a conventional loan. 

Agree you need a commercial lender, or a bank that keeps loans in house (portfolio loans).A residential lender that is selling the loan needs it to conform to Fannie Mae, and that's a non starter for an LLC.But for your first deal, it's also not a big deal to have it in your name with better and easier financing terms, and you can get a million dollar liability policy for a lot less than you will be spending with a hard money lender.

@Blair Poelman I think it is legit it may be because we live in a non conforming duplex and rent out the basement space.

@Vladimir KirichenkoThe purposes of the RA-1, RA-2, RA-3, RA-4, and RA-5 zones are to:(a) Permit flexibility of design by permitting all types of urban residential development if they conform to the height, density, and area requirements established for these districts; and(b) Permit the construction of those institutional and semi-public buildings that would be compatible with adjoining residential uses and that are excluded from the more restrictive residential zones.300.2 The RA-1 zone provides for areas predominantly developed with low- to moderate-density development, including detached dwellings, rowhouses, and low-rise apartments.300.3 The RA-2 zone provides for areas developed with predominantly moderate- density residential.300.4 The RA-3 zone provides for areas developed with predominantly medium-density residential.300.5 The RA-4 zone provides for areas developed with predominantly medium- to high-density residential.300.6 The RA-5 zone provides for areas developed with predominantly high-density residential.SOURCE: Final Rulemaking published at 63 DCR 2447 (March 4, 2016 – Part 2).

, this usually means that there is a non-conforming unit in the building.

While speaking with lenders, they say that they treat this as a duplex, meaning the conforming loan limit jumps for $970,800 to $1,243,050.

You will only be able to use conforming loan limits.  

Joe,First I would check if the property is what is called 'legal non-conforming'.

I have some coverage with the property insurance and I also carry liability insurance on the LLC and a personal umbrella.The other half are conforming loans and under my personal name. 

That’s the lowest you’ll find here in Florida for a conforming loan.