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I'm trying to buy a rental property, but I'm having trouble finding a mortgage company to allow me to transfer the mortgage to an LLC.

+1 vote
by (130 points)
I'm trying to buy a rental property, but I'm having trouble finding a mortgage company to allow me to transfer the mortgage to an LLC. Even North Pointe Bank, the bank that Andrew used when buying his rental properties, told me that I wouldn't be able to do this. Am I asking the wrong questions? Can someone help me out and figure out a way for me to find a rental friendly mortgage company?  
I'm trying to buy a rental property, but I'm having trouble finding a mortgage company to allow me t

1 Answer

0 votes
by (290 points)
This is a hang up for me as well. I’ve come to the conclusion that I’ll cover everything with an umbrella policy until I can buy properties with cash through an LLC. Not sure if that’s the proper way to go about it though.  
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