Posted by charles (delaware) on October 20, 1998 at 22:15:25:
I think you will have to buy under your name. I use a LLC for cash purchases, but I have gotten two loans recently and the banks required my personal name. One was commercial type loan the other was for SF rental house.
I do use the LLC to hire contractors, sign purchase offers, and for tentant’s lease agreement.
good luck
Will a Bank Lend to an LLC? - Posted by Jeff(MA)
Posted by Jeff(MA) on October 20, 1998 at 19:22:04:
I am concerned that I will not be able to get a mortgage in the name of an LLC because there is currenly no income being generated by the LLC (i.e. property not yet rented) to provide for the debt service.
While I can qualifiy for the mortgage on my own, I would prefer not to have my name on the note.
Any thoughts?