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Updated 3 months ago, 09/06/2024
Converting my primary residence to a rental
Hi everyone,
I've been in my home for 3 years now and I'm looking to purchase a new home and convert my current property to a long term rental. I purchased my house using a conventional loan in 2021. Is there any requirement that I notify the lender that the property will no longer be my primary residence? I currently have no plans to change the mortgage at all and would like to keep my current payment and rate as is. If there is a requirement to notify my lender how would I go about that process?
Thank you for your guidance here!