- Joined
- Sep 21, 2016
- Messages
- 1,187
Ok gotcha on that, so the bank can make the decision based on your LLC's history as well as your own credit history as regards the "due on sale" clause. No doubt the interest rate and regulatory environment may also influence the banks decision. I am sure the most likely case the bank could simply say no to transferring the loan to your LLC if it chose.I can transfer a mortgage under my name to my LLC's name through a quitclaim deed. It's just the bank's options to call on the due on sale provision. I just don't know how likely that is. I've heard it very rarely happens, but as we are in a higher interest rate environment a bank may be more likely and as we come out of it, the price of the house should go so up that may make it even more likely. I've heard only Wells Fargo is adamant about it, others don't care as you pay.