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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16576
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I'd like to purchase a home that's selling at 608,000. I

Customer Question

I'd like to purchase a home that's selling at 608,000. I want to purchase it with my brother through an LLC. I'm wondering if I'm able to qualify for that price
Submitted: 1 year ago.
Category: Tax
Expert:  Megan C replied 1 year ago.

Thank you for your question. Many lenders won't lend to an LLC except for short term loans, which have rates that reset every so often -- typically 3-5 years. You would not qualify for a typical 30 year or 15 year mortgage, just because of holding it in an LLC

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