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Responses

  1. I have been dealing with mortgages for 7 years, and I have not heard of a case where a mortgage repayment is required due to the transfer of the property to LLC… provided (!) That the owners of the company are the same as the original owners on the Title !!!!
    If you add or subtract owners, this is considered a substantial change, and you owe a new loan !!!

  2. Reporting from the Field (New York) -
    Mortgage through LLC is considered a business loan and the interest rate it had on it ranged from 7% -8% for a period of 30 year. The same mortgage on a first name (the same amount and the same period) is given at an interest rate of about 5% -5.5%.

  3. This is not a problem, as long as the mortgage payments are paid on time - there is no one to check or look for what is wrong.

    And it doesn't matter who pays the mortgage, you LLC or Mickey Mouse, as long as the payment is paid - no problems.

    I was not bothered about it.