Mortage implications of moving rental into LLC

[David C.]

I have a condo renting with finance from conventional 15 yr fixed i secured at 2.75% when I lived in it. Now i want to change deed to my new LLC, but worried ill have to refinance or it'll alert mortgage company that its no longer my primary home and im renting. Is it possible they might just let me keep what i have and simply change name or will i have to do new finance and face higher rate as it'll be financed as a rental? Or just keep it as is in my personal name? Any ideas, advice before i call mortgage company? Tnx

[Vaughn Smith]

@David C. I'd take a look at your contracts and speak to the mortgage company directly for the best answer here, You may be able to make the change without them knowing, but is it worth the risk? I'd also consult your CPA to discuss the implications of keeping the property in your name, forums are great, but it sounds like the answers to your questions are very specific and the wrong bit of advice could prove quite costly