Closing in Personal Name Using Personal Credit
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Closing in LLC or LP Name With Personal Guarantee
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Lender requires you to hold title in your own name.
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Individual Guarantor is not on title.
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Paper trail for purchase of property shows your individual name on public records.
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All public records show your company as the purchaser and title holder of the property.
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Your mortgage shows up on your personal credit report.
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Depending on the lender, you have the option of not having the mortgage appear on your personal credit report.
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Debt-to-Income Ratios may be too high due to too many mortgages on your personal credit report.
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If you purchase using our strategies, your debt-to-income ratios need not be adversely affected.
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Closing in this manner will lead you to look too risky to mortgage lenders.
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Fewer mortgages on your personal credit report will make you more favorable from the lender’s perspective.
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If you transfer title after closing to your LLC or LP and your lender has a due-on-sale clause associated with your mortgage, you will trigger it and risk having your mortgage accelerated (have to pay off the mortgage in full within 30 days)..
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NO due-on-sale clause issues!
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When you want to do a cash-out refinance, you need to put the property back into your personal name; close, then transfer back to your LLC or LP.
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Just refinance! No extra hassle, no drawing attention to your title transfer (transfer fees, insurance, etc.)
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LTV’s higher for non-owner occupied properties
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We can match this and you create your own strategies all in only your LLC or LP name!
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Option ARMs or Fixed-Rate Options
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Option ARMs or Fixed-Rate Options
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