HOAs can limit your ability to rent the unit too so you'd need to scrutinize the HOA bylaws to see if rentals are allowed or if there are any restrictions on rentals such as owners can only lease their unit for a max of 1 year etc..

She must also check with her mortgage lender and insurance provider to ensure no restrictions and update her insurance to cover the risks of short-term rentals.

It’s like you used your money to cash out loan first (so no restriction). 

You may need more than one as some lenders may have restrictions on where they lend2.

Then get with your tax Person to find out what the cost of this type of setup will be, and also talk to your lender to see if this is going to put any restrictions on your borrowing.Good Luck! 

If the HOA includes any perks (eg access to a pool), you can use that as a selling feature to tenants.

Investors connected and contacted me from BP the third week of May, frustrated with their STR search due to licensing restrictions, but committed to finding a coastal second home eligible for vacation rental usages before the end of summer. 

@Linda West it is United Wholesale Mortgage, which you gain access to through a mortgage broker.To answer your original question, I like Navy Federal for the long draw period of 20 years, followed by repayment period.  

On the buy side fannie mae is the only one I am aware that has a restriction on selling.

If it’s 1-3k and you get actual access to them and not some “student”, then maybe it’s worth it.If it’s 10k or more it’s never worth it.