Converting to STR - LLC & Insurance (Mortgage Implications)

[Neil G.]

I purchased my first property under my personal name and secured a mortgage as a "second home", but the plan was really to rent it out as a STR. My mortgage broker told me to simply get the "second home" insurance policy in order to secure the mortgage and then change the insurance plan later.

So now I'm looking to move it into an LLC and convert the insurance policy to an STR, but I'm a bit worried about the implications.

The lender said it's fine to convert it to an LLC and that this would not cause any changes to the terms. My insurance provider also said I can change the policy to cover STR and put it in the name of the LLC.

But I'm concerned that the lender will have issue with the house being used as an STR since we secured the loan as a "second home".

Did my mortgage broker lead me astray with the manner in which we secured the mortgage? How would you proceed in my situation? Am I overthinking this?