Issues with Transferring Ownership to LLC

[Nicholas Sterling]

Hello, 

I am new to the Bigger Pockets community. I was wondering if someone might be able to help me out with a question.

I am looking to buy in New York state and live in the property for one year before converting it into a rental property. What is the typical process for transferring ownership from my name into an LLC? I have heard that you need to obtain permission from the mortgage lender to do this, and that you risk having the loan called if you transfer without permission from bank. But how do I know if the bank will be ok with it in the future? What are the usual mechanics for converting your home into an LLC titled rental?

Thank you in advance!

Nick