Fannie Mae – Rental Income – Partnership or S Corp: Do I need to count the entire payment for a rental property against a buyer if the rental property is reported through an S-Corp?

Answer: Fannie Mae allows you to offset the monthly obligations for rental properties reported through a S-Corp or Partnership. Following are the exact rules: Offsetting Monthly Obligations for Rental Property Reported through a Partnership or an S Corporation If the borrower is personally obligated on the mortgage debt (as evidenced by inclusion of the related [...]

2019-01-25T08:37:39-05:00January 25th, 2019|

Fannie Mae & Freddie Mac-Properties Owned by LLC: How do you refinance a property when it is owned by an LLC with 50/50 partners and only one partner will be signing the deed?

Answer: If you are dealing with a Fannie/Freddie loan, this shouldn’t be a problem. However, I do want to remind you that the loan cannot close in the name of an LLC. It must be in the name of an individual or a trust. Fannie and Freddie do not allow loans to businesses. The challenge with [...]

2018-06-25T08:25:16-05:00June 24th, 2018|