Will my mortgage lender charge me more if I rent my property out?

Question

I want to rent my house out but have a mortgage. i know i need to inform them for insurance reasons but will they charge additional interest or fees?

Answer 1

what aobut if u lease it out long term.. make them sign a cotract..

Answer 2

Your mortgage will not change bc you are renting - but your homeowner's insurance might.

You don't have to inform the bank (or your lender) that you are renting your property out, just your insurance.

Answer 3

your home owner charge might go up but your mortgage will remain the same

Answer 4

You only need to inform the mortgage company if they are providing the insurance on the property.  If you are providing the insurance, you need not inform the mortgage people.

If they are carrying the insurance; yes, you will pay additional premiums for the insurance because of renters on the premises.