Comments on: How can I buy residential real estate in an LLC with 40% and no personal guarantee? http://www.architecture-index.com/residential/how-can-i-buy-residential-real-estate-in-an-llc-with-40-and-no-personal-guarantee Sat, 17 Jul 2010 13:07:59 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Dale H http://www.architecture-index.com/residential/how-can-i-buy-residential-real-estate-in-an-llc-with-40-and-no-personal-guarantee/comment-page-1#comment-5098 Dale H Thu, 11 Mar 2010 17:12:59 +0000 http://www.architecture-index.com/residential/how-can-i-buy-residential-real-estate-in-an-llc-with-40-and-no-personal-guarantee#comment-5098 You probably won't find anyone who will do the loan without it being guaranteed personally unless it is a portfolio program and those are usually ARM's and then the LLC would have to have established credit and income to be able to qualify for the loan by itself. World Savings used to do these loans. I don't know if Wachovia is continuing with that program or not. They used to do it, but usually it required a personal guarantee. You might check with WAMU, too. I don't believe that freddie and fannie will allow a property to be vested in an LLC. They certainly won't allow the LLC to be the borrower. What about putting the properties in a trust? That could work with agency programs although you are still the borrower and the trust would have to be approved. Just a thought. Good luck.<br><b>References : </b><br>7 years mortgage lending experience. You probably won’t find anyone who will do the loan without it being guaranteed personally unless it is a portfolio program and those are usually ARM’s and then the LLC would have to have established credit and income to be able to qualify for the loan by itself. World Savings used to do these loans. I don’t know if Wachovia is continuing with that program or not. They used to do it, but usually it required a personal guarantee.

You might check with WAMU, too.

I don’t believe that freddie and fannie will allow a property to be vested in an LLC. They certainly won’t allow the LLC to be the borrower.

What about putting the properties in a trust? That could work with agency programs although you are still the borrower and the trust would have to be approved. Just a thought.

Good luck.
References :
7 years mortgage lending experience.

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