Dan, first...WELCOME! Come back and ask questions often. Don't be one of those silly folks who does "one and done" here and we never hear from them again. Too much good info here to miss out!

Second...don't post under your real name. Anyone can Google you and find what you posted. Or maybe you're already in cognito?

Third...you need to understand the reason WHY the bank wants you to do this. Your lender plans to sell your mortgage on the secondary market. Most likely it is a standard residential conventional, FHA, or VA loan. To qualify for secondary market, it MUST be in the owner's name. No ifs, ands or buts. It's the law and they have to follow it because that is the product they want to offer: mortgages that qualify for sale on the secondary market.

BUT! (here's the first BUT!) Commercial loans have much more flexibility. Most banks who do commerical loans don't care about LLCs because their intention is to keep the loan "in house" as part of their portfolio. They don't sell it off: they'll keep it until you pay it off or refinance it. So...no requirements. BUT (here's the second BUT!) you will still be required to sign a personal guarantee that if the loan goes delinquent they can sue you for the balance due, etc.

The upside with commercial loans is flexibility. The downside is most won't offer fixed rate for longer than 5 years, so your interest rate may get horrible if they rise over the next 5 years or so.

You get to choose which one is worth more to you.

Or you can do what some folks do...move the property into your name, refi at a secondary lenders, then deed the property back to your LLC after closing the loan. Most lenders won't check....but if they do and want to get horsey with you they can use your transfer to the LLC as grounds to invoke the "due on transfer" and acceleration clause in your loan: basically, they get to say you defaulted by deeding the home out of your name and have to pay it all in the next 30 days (or whatever time frame). Rare, but could happen, especially in a market where interest rates are rising and banks might be tempted to call the money due in full so they can loan it back out at much higher interest.

So there you go...the good...the bad...and the BUTS!

I use a local bank for mine, and I have them as commercial loans. I get the same prices as if they were owner-occupied, but everything goes faster. A loan designed to sell on the secondary market required about 10 times the paperwork as the commercial loans.

My bank used to let me keep a rate for 5 or 7 years, although they set my minimum payment based on a 20 or 25 year loan. These days, they are down to 3 years fixed due to the market. So, every three years they can re-set the rate.

The exception is if I only want the loan for 5 years. If I set it to completely pay off in 5 years, so that I'm making a sizable principle payment right from the start, they will finance it for 5 years for the current interest rate, if not a little lower than the current interest rate. I did one of those in October. My new build went over budget, and I needed cash to finish construction. I pulled the equity out of a nearly paid off duplex (that hurt!) but I'll have it entirely paid off in 5 years.

If you pull it out to refinance then put it back again after closing, you can trigger the Due on Sale clause, and don't let anyone tell you that can't or won't happen. It can and might.

For one thing, insurance. You can't carry insurance in your personal name if it's owned by the LLC or vice versa, so when insurance renewal comes around, bank will say, "HEY WAIT A MINUTE!" Happened to us. SO we quickly switched it back OUT of the LLC...again! Luckily no transfer fees here.