How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
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
Type Your Tax Question Here...
Megan C is online now
A new question is answered every 9 seconds

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

Please let me know if you need anything additional. If not, please rate positive

Related Tax Questions