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I need a wholesale lender in NY that allows an LLC

Looking for a wholesale lender for an owner occupied purchase in NY using a corporation as title holder. Purchase price is 495000.Thanks by MichelleCurtisLO from Fort Lauderdale, Florida. Dec 11th 2015 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Nope.. no such thing.. There are no Conforming lending programs which allow the purchase of a property to be in the LLC's name at close.. FNMA allows for certain types of trusts to be on the closing documents, but not the LLC.. You can however purchase the property in your individual name, and then after close, deed the property into your LLC.. For most lenders, this is acceptable and will not trigger a "due on sale" clause, but be sure you know for sure before applying.. Otherwise, your looking at "Non-Conforming" types of loans (Hard Money or Portfolio), but expect the terms to be much less favorable.. higher interest rates, higher fees, and lower loan to value requirements.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Dec 11th 2015
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