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FHA Home Loan Mortgage With and LLC

My business partners and I want to purchase a 4 unit property in California. We currently run an LLC, can we apply for an FHA mortgage with this business entity? by jamesdicamia2929 from Los Angeles, California. Nov 8th 2010 Reply


Patrick Bodine (pbodine)
#11 ranked lender in Minnesota - 25 contributions

If one of you is planning on living in the property ,the other investors would have to go on the loan as non-occupying co borrowers ,as far as the LLC there are some stipulations that would come into play for that to happen. If you would like more information or to discuss this further please contact me.BNC National Bank is a national lender with competative rates and fees Patrick BodineSR.Mortgage Consultant 650 Douglas Drive NorthGolden Valley, MN 55422Cell:651.248.0467 Office:612.305.2284 Fax:612.766.9884 Email:pbodine@bncnationalbank.comWebsite:www.bncnationalbank.com/minneapolis/pbodine

Nov 8th 2010
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Su Guerzon (sguerzon)
#30 ranked lender in Illinois - 1 contribution

Are you planning on living in this property? FHA does not insure investor loans-

Nov 8th 2010
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one of us will occupy one of the units..the other 3 will be rented.

Nov 8th 2010
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Rudi Hofmann (CaPortfolioLoans)
#282 ranked lender in California - 380 contributions

Finding recent comparable sales on 4 units will be hard. .... With no comps it will be very difficult to find a lender.

Nov 9th 2010
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