Thread: Mortgage for Business?

Financing under a business is always more work and limits your options even further (not that it isn't done all day tho), not to mention the loan-to-values usually being lower...

You could always look at a No Doc loan for you personally where you don't declare your work history (some credit required tho), or if you have gone into a related industry from what you were studying there are a lot of programs out there that will accept that.

Regerdless if your loan-to-value is low enough none of these will be issues.

Good Luck with the rehabbing

great BASIC question. it's the question and answer that determines alot of what noob investors do or don't do.

to answer your question, there are so many ways you can get a loan, be it personal (in your name) or business (in company name).

if your business is new, with no credit history - the business itself will not get the loan.

there are multiple ways to acquire loans in the name of your business though, so that you can begin building that needed BUSINESS credit.

the only thing is, you will DEFINITELY NEED TO PG THE LOAN/MORTGAGE. (PG means personally guarantee).

Corporations that have established credit and CASH FLOW, like Motorola for instance - it's a corporation that acquires assets in the name of the business entity - buildings, other companies, etc...Motorola acquires these things using different contract agreements and expands it's assets by expanding it's liabilities. BUT THAT'S MOTOROLA.

[i'm not comparing you or anyone on here to Motorola, i'm simply making a point].

you start a Corporation or LLC. that company is nothing, and has no value, assets, liabilities.

to finish up here, there are alot of lenders these days that know exactly what real estate investors want - and they specialize in providing loans to "businesses" like LLC or S-Corp's while holding the originator of any loans - YOU - personally liable for the debt.

does this make sense?

if not, pm me.