Will the banks allow me to use the money to build a new home?

I am surprised you found a bank willing to do this.

As a PMC, we allow tenants to:1) Mail in rent (we charge a Processing Fee)2) Deposit at our bank (we charge a Processing Fee, but less than the mailing one)3) Use Zelle, Venmo, etc. 

I got better terms than I could get with a bank.

I’ve bought some houses with 0% interest for a year credit cards and a few with consumer lines of credit from banks.

The property is zoned as a SFR house and likely in a neighborhood of the same.Was the property not appraised by the bank when you got your mortgage?

@Eric Yu, @Brad Jacobson, I bank at MACU, but I use a mortgage broker for most of my loans.

I would keep it in a high interest bank account might as well earn as much gain as you can no matter how small it is.However I think some debt pay down would be great not to the point where you are not liquid enough to Jump at another opportunity or can’t make a major repair when it arise.

.- Strategic Partnerships: Building direct relationships with REO asset managers, bankruptcy attorneys, and bank liquidation teams can provide exclusive access to bulk sales before they go public.- Bulk Purchases & Portfolio Acquisitions: Banks and hedge funds often look to unload non-performing assets in bulk.

It would benefit a lot if you are able to obtain US credit, US LLC and US Bank Account.