If you have checkbook control you’ll have a bank account with a bank that has FDIC insurance up to $250k per account.  

Hi Heidi,I did a 15% down loan for 2 properties in Albany, NY with the national bank of Coxsackie in 2023.

The bank said they require 90% owner occupancy and since our HOA is only 5 units, we only have 80% of units occupied by owner. does anyone have any suggestions on any banks or credit unions where this may not be an issue? 

I did all of my loans with small local banks in my area and was always happy with the rates and service.

Since you put 5% down and the appraisal came in at $160K, your available equity might be limited since banks usually cap HELOCs at around 80-90% loan-to-value (LTV).

Go to your bank and they can provide you with instructions.

Do you think the bank’s loan will consist of one document, drafted by your borrower?

Quote from @Mason Jacobs: @Marios Andrianos Im a private lender and would refi you as long as you had a LLC and a few other small things, if you are investing in the United States are you trying to use a bank in Greece for the US property? 

It was a conventional bank loan.

Also, separate bank accounts from day one, get insurance (builder’s risk is a lifesaver), and don’t skimp on an attorney when setting up your partnership.