Renting out my existing home. Legal way to proceed?

[Vinh Le]

If a homeowner decides to rent out their current home (which they have live at for over a year) and will purchase a new primary home, do they need to notify their old mortgage lender that they intend to rent out their old house?  

[Vinh Le]

@Stephanie Medellin

I'll have to look at the details of my mortgage documents if there are certain guidelines/restrictions from the lender. I believe it's also a year of occupancy for Texas homes as well. 

@Jerry Padilla

I have considered FHA loans but I prefer to do conventional financing with 20% just to avoid the insurance cost.