Loan Question: Transferring my residential home property to an LLC

[Eliseo Luna]

Hello All!

New to this game and this site! Looking forward to the ride. My question is that I'm moving from my current single family home to a new residential single family home. Planning to rent out Home #1, but would like to transfer the loan from my name into my LLC's name.

The question is in anyone's experience, does this create a brand new loan or does the loan stay the same (Just the name on the loan changes)? The reason I'm asking is because I bought the house with 3.9% interest rate and was looking to try to keep the rate the same. Have not found much information on this. Would I pay for closing cost again?