Are you planning to vest your property in an LLC for asset protection purposes?

When purchasing or refinancing, the property has to be held in your own name personally. If the property is already held in an LLC, you would do a quit claim deed to transfer it back to your personal name.

If your loan is held by Freddie Mac, transferring a property to a LLC could potentially trigger the due on sale clause, which means the lender has the right to call the loan due and ask you to immediately pay off the balance of the loan.  We can help solve this by refinancing the mortgage to Fannie Mae.

If your loan is held by Fannie Mae, they will allow you to transfer it to a LLC after the loan closes.  Per the Fannie Mae Servicing Guide:

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To find out whether your current loan is held by Fannie Mae or Freddie Mac, you can go to these two sites to look up your loan:

Please do not hesitate to reach out to us if you have any questions.

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