Converting Primary Residence to Rental Property

[Joshua Badour]

Hey all! I'm planning on taking the dive (kind of) into my first real estate property, and I just had a question regarding general mortgage rules. In short I acquired my primary residence in 2015 and have been living there for 5 years. Wife and I are looking to upgrade, and I figured instead of selling my house we would rent it out (good location, good price points). My question is with the mortgage. I understand that when acquiring properties you need to obtain an "investment" loan, but as I won't be obtaining a new loan and have been living there for some time I was wondering if there were any requirements I needed to follow? Do I need to inform my lender? Do I have to refinance if I want to use this place as a rental property? I just want to make sure I'm not doing anything wrong by simply moving out and throwing it up as a rental. Any help greatly appreciated! I live in Michigan, by the way, if that makes any difference. Thanks!