Gigi,

There is nothing wrong with making your primary home to a rental/investment property. You have no obligation to tell the bank and so long as you make your mortgage payment on time and carry a hazard insurance on your property, your lender most likely have no issue to talk to you about.

Let us know if we answered your questions. Best of luck!

You will have to tell the lender that you have a loan on the property. It's going to be on the credit report and they will ask about the property. The debts from the loans will be used to calculate against your income on qualifying for the new loan. The rest of the info was explained to Gigi in a seperate email.

Steve is right. It's similar to buying a home as your principal residence and later making it a rental. You don't have to tell the lender.

Hi Gigi,

You DO NOT have to tell the bank you are renting the property.

Best, Steve
Realtor® / Mortgage Broker / Certified Mortgage Planning Specialist®