Question Details

Frederick, Home Buyer in Philadlephia, PA

Is it possible to get a mortgage through a newly established LLC or LP?

Asked by Frederick, Philadlephia, PA Tue May 6, 2008

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Answers

1
Most lenders will not allow the loan to close under an LLC or LP. Most lenders require the mortgage to close under the name of an individual or the individuals involved in the transaction.

Post closing, you can move the property to the LLC via a quit claim deed. Check this out carefully with your title company and your CPA.

Good Luck!

Trey Bowden
(405) 340-3277
0 votes Thank Flag Link Thu May 8, 2008
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