Why doesn’t everyone in the USA buy their house using an LLC? by @R44D
Answer by Raad Ahmed:
Real estate purchases and LLC weren’t designed with the idea of complimenting each other, so this type of strategy simply can’t work for everyone. Lenders are much more hesitant to lend a mortgage to an LLC because it negates the concept that LLCs aren’t saturated with liability—a mortgage can certainly be classified as a liability. You can still gain some tax deductions from home improvements and other house-related expenses simply by being a homeowner without the LLC involvement. If by chance you were successful in finding a lender who would go down this road, there are very specific requirements you must meet both financially and regarding the track record for your current LLC. In short, using an LLC for a mortgage can be a messy situation that can complicate the process for both LLC ownership and home ownership. Keeping these entities separated is often easier and more attainable.
There may be very specific information in your situation that could impact whether this is an option for you. If you are interested in forming an LLC in the US,is the website to turn to. Our legal marketplace has seamlessly connected numerous individuals w/ top lawyers across the country. We offer flexible payment options, including payment plans and flat-fee or fixed fees.