Can you turn an existing mortgage into an LLC?

[Jeff Byrne]

Hi All!

My name is Jeff Byrne and I'm from New Albany, IN. First time poster, haven't even gotten started with our plan. My family wants to start in the RE game by renting our own home after making some upgrades to the house. Our question is can we start our own LLC and put our existing mortgage under that LLC? We're looking to start renting the house a year from now but want to make sure we can take this first step. If not, is there other ways to do this? For reference we are in Southern Indiana just north of Louisville, KY. Thanks!!

[Will Fraser]

Welcome to the community, @Jeff Byrne!  As @Taylor L.mentioned above the mortgage won't be change-able, but I bet the heart behind what you are asking is whether the ownership (i.e. the title or deed) to the home can be in the LLC's name. You can do this, which would help give you the protection that an LLC is designed for. Again echoing Taylor . . . that CAN trigger the due on sale clause in your mortgage, but I haven't heard of that happening.

Good luck in the planning and execution of this beginning!