Mortgage for LLC looking to purchase in Florida
I sold a rental property under LLC and looking to buy a replacement rental home under my LLC using my 1031 exchange as down payment. Do you know who or how to find lenders in Florida that provide mortgage under LLC. I own 100% of the LLC.
Evan here. First off, thanks for reading. From my understanding, most mortgage lenders who issue loans to private individuals can also issue loans in the name of an LLC. You can sometimes see this as your name “doing business as” your LLC.
Ultimately, you should have no problem finding a lender who will issue a loan in the name of your LLC. However, you might need to include things like your personal credit score as well as your personal income, etc. Still, you should be able to put it in the name of your LLC to reduce personal liability.
For more info on Florida lenders, I’d check out this article by Zillow and reach out to a few of the top ones.