Is refinance a must to convert my primary residence into an investment property?

If you recently financed your home, then you would be violating the occupancy agreement. If it has been a few years since the purchase or refinance, then you should be ok. If you pull up your loan documents, then you can see what the requirement on occupancy is. You can also contact your lender and ask them directly. They may push you to refi, so they can make some commissions. See what the loan docs and your lender says.

No, you do not need to refinance it. It is ok to change occupancy from owner occupied to Non-owner as peoples lives change. However, when you take a new mortgage as an owner occupied loan you are testifying that you will occupy the home, not forever but at least initially.

hi: how long have you had the property? a lot of homeowners will do that but note on the new primary mortgage you are acquiring depending on bank but general rule is in order to offset rental income you must have a 2 yr landlord management history if not whole payment will be taken into consideration. That is the general rule for Fannie and Freddie unless guidelines have changed.. If you encounter a debt ratio issue, I do have a program for higher debt to income and also can take your transaction to my private investors which is no issue as long as property value comes in. credit not an issue...just collateral is what they look for. (Mike 703 505 5300)

Check the terms of your existing Note. Most require occupancy for a specified length of time but you should be fine.

seems to be a lot of speculation above..... bottom line check your closing documents to the occupancy agreement of your mortgage they can vary widely between companies.... if you are uncertian have your atty review.... its really as simple as that.