Buying a home with LLC?

**fastfunding** · 01-22-2007, 11:39 AM

Is it possible to get qualified for a loan?

**TJ2007** · 01-22-2007, 09:02 PM

Is it possible to get qualified for a loan in the name of a LLC?

Absolutely!

**RG1x** · 02-20-2007, 01:01 PM

It depends on your credit history as an LLC. No credit history usually means no loan....

Robert Greco
up4salehomes. com

**TJ2007** · 02-20-2007, 04:44 PM

You may have to personally guarantee the loan, but there are still advantages to holding title in a corporation or trust...

**mcole** · 02-24-2007, 05:59 AM

Keep in mind that if you get the loan through the LLC it would be a commercial loan, not a residential loan. And the rates, terms, etc would be completely different.

**TJ2007** · 02-24-2007, 02:08 PM

Sorry mcole,

That is not really true!

There are loan prograns that allow you to finance a home on the same terms as an owner occupied residence in the name of a corporation or trust for tax/ other reasons providing of course one of the controlling owners will be using it as residence...

**Lenderles** · 02-25-2007, 08:12 AM

Great discussion!

With the LLC they will want a guarantor to sign (owner). and you will need to provide a P&L and possible 1040's for the past year or two. Unless, you as the business owner have a good long standing relationship with the bank. Then they might just let you get the loan NINA,Stated or No DOC.

Just make sure you have your "ducks in a row".

And if you believe in what you are trying to do, Dont take NO for an
answer.

**mcole** · 02-26-2007, 06:12 AM

Sorry. I was jumping to conclusions and assuming this was strictly for investment purposes. Not for someone who was looking to live in the property and personally guarantee the loan.