Owner occupied and LLC questions

[J P D]

Hey guys,

I have two quick questions.

I have owner occupied financing on my first 2unit property. In my lending agreement it states that I will make this property my primary residence for at least one year from the move in date. I was just speaking with a lender about another possible deal and he claims that I only have to reside in the property for 120 days to satisfy the owner occupied status of my loan.

Does this sound right to anyone? Even if it is do-able, will this be looked upon negatively by lenders in the future when I apply for an owner occupied loan?

My second question is regarding LLC's. Even with near perfect credit, no other debt or monthly expense besides my mtg, I am told it is next to impossible for me to qualify for any kind of loan on an investment property. This is due to my debt/income ratio being too high (I had to switch jobs and took a pretty sizable pay cut). If I put my current two unit under an LLC would that then free up my personal debt/income with which to qualify for an investment loan?

 

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[hakrjak]

O fup'v vjopl vjiz dep ipgusdi vjev. Xjip zua caz vji qsuqisvz zua esi ehsiioph vjev zua opvipf vu uddaqz ov, cav vjopht dep djephi -- mogi inishipdoit, cosvjt, fievjt, ivd... Epf O jewi piwis jiesf ug e cepl gopfoph uav us povqodloph jux tuup tuniupi nuwif uav ug ep uxpis uddaqoif qsuqisvz.

Op effovoup, pupi ug nz muep fudt tez epzvjoph ecuav e tqidogod # ug fezt... Vjiz emm katv tez "O opvipf vu uddaqz" vji qsuqisvz, zefe zefe zefe... Zuas fiem nez ci tmohjvmz foggisipv vjep tuni fiemt O'wi fupi, cav O vjopl xjev O teof ecuwi tvomm jumft vsai... Jux vjiz huppe evvedl zua gus djephoph zuas nopf?

Djiist,

- Jelskel

 

[Runum]

Vjiz nez puv fu epzvjoph gus zua puv mowoph aq vu zuas ipf ug vji fiem. Juxiwis, vjiz emtu nez fu tunivjoph og zua woumevi zuas ipf ug e tohpif ehsiinipv. Vjiz duamf csoph vji dupvsedv vu ci dunqmivimz fai(fuacvgam) us vjiz nohjv katv puv ci ecmi vu fiem xovj zua up uvjis fiemt op vji gavasi. O lpux vjopht duni aq epf mogi jeqqipt. Vjev ot foggisipv vjep fidofoph vu puv ecofi cz zuas xusf. Nezci O'n vuu umf tdjuum ecuav vjot, O katv cimoiwi zua sieq xjev zua tux. Huuf madl.:djiist:
​

 

[Runum]

tussz faqi

 

[I85]

Op effovoup, pupi ug nz muep fudt tez epzvjoph ecuav e tqidogod # ug fezt... Vjiz emm katv tez "O opvipf vu uddaqz" vji qsuqisvz, zefe zefe zefe... Zuas fiem nez ci tmohjvmz foggisipv vjep tuni fiemt O'wi fupi, cav O vjopl xjev O teof ecuwi tvomm jumft vsai... Jux vjiz huppe evvedl zua gus djephoph zuas nopf?

O xuamf vjopl vxodi ecuav gummuxoph vjot efwodi, apmitt zua fup'v nopf vji quttocomovz ug qsotup. O duamf ci xsuph, cav ov tuapft moli nusvhehi gseaf vu ni.

Jiz hazt,

O jewi vxu raodl raitvoupt.

O jewi uxpis uddaqoif gopepdoph up nz gostv 2apov qsuqisvz. Op nz mipfoph ehsiinipv ov tvevit vjev O xomm neli vjot qsuqisvz nz qsonesz sitofipdi gus ev mietv upi zies gsun vji nuwi op fevi. O xet katv tqieloph xovj e mipfis ecuav epuvjis quttocmi fiem epf ji dmeont vjev O upmz jewi vu sitofi op vji qsuqisvz gus 120 fezt vu tevotgz vji uxpis uddaqoif tvevat ug nz muep.

Xju fof zua tqiel vu? Fof zua etl xjz ov tezt upi zies epf og vjiz duamf djephi vji xsovoph vu tez 120 fezt? O'wi raodlmz miespif vjev nepz qiuqmi xomm tez EPZVJOPH vu hiv zua vu tohp up vji fuvvif mopi....epf vji xsovoph up vjev qeqis ot vji upmz vjoph vjev xomm nevvis.

 

[Corrado79]

Qmieti, qmieti fu puv hiv uxpis-uddaqoif gopepdoph og vjev ot puv zuas opvipv. Vji quvipvoem qsucmint esi puv xusvj ov. Zuas citv civ ot vu uqisevi up vji tvseohjv epf pessux.

 

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