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DCLOAN

6 Posts

Posted - 04/10/2008 :  11:13:43 AM

I have a client who has 5 or 6 properties he wants to move into an LLC. The problem is the ltv / cltv’s are all above 80% and the borrower is stated…any hope for this anywhere??
clydesnodgrass

167 Posts

Posted - 04/10/2008 :  11:17:30 AM
He can have them titled in an LLC all day long, that's easy... financing them as an LLC, that's basically a commercial loan and his LLC needs to have credit established, which, 99 times out of 100, that never happens.

I have an LLC, completely unrelated to my mortgage company... I have a DUNS #, FEIN #, two revolving credit lines IN the business name, that's backed by my personal credit (even though it doesn't report). I started doing this about 5 months ago, just for the specific reason of wanting to be able to purchase a home using my companies credit.
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