Hey, all thank you in advance!
I was wondering if I could get insight on transferring my current home into the name of a business. What I am trying to do is get my current home out of mine and my wife’s name and put it into our business name and then I guess technically rent it from myself.
Basically, I don’t want my home to show under my name and in turn, I just rent from my business that owns it & so when I go to build my new home, it allows for my DTI to be lower.
Is this possible?
I can afford to have my current house mortgage and the new home mortgage simultaneously but if I don’t have my current home in my name, then I only have to put 1% down on my new build instead of 20% if I have a current home in my name.
Thank you so much!