Can I get a loan on a rental property?

By a landslide, the most common financing rental property method is through a conventional bank loan. Buying an investment property through conventional loans is possible through both big banks and local banks. Conventional loans consist of long terms, down payments of usually 20%, and low interest rates.Click to see full answer. Also asked, is it hard to get a loan for rental property?It’s true that it has become a lot harder to get financing these days; but for people with decent credit and sufficient income there is still plenty of money available to borrow. For terminology purposes, when you borrow for a rental property, it is called non-owner occupant (NOO) financing.Secondly, can you get a 30 year loan on an investment property? Yes, you can get a 30-year loan on an investment property. 30-year mortgages are actually the most common way to finance rentals. However, terms of 10, 15, 20, or 25 years are also available. A higher interest rate or shorter loan term will mean higher monthly payments. Secondly, what type of loan do I need for a rental property? When it comes to financing rental property, you may only be familiar with standard conventional guidelines requiring at least 15% down (although most lenders require at least 20%). That’s because conventional loans offered through Fannie Mae– and Freddie Mac-approved lenders are specific for rental properties.How can I get an investment property with no money down? It is possible to buy property with no money down. Roll the down payment into the purchase price. Negotiate a separate installment plan for the down payment. Trade something other than cash. Trade houses with the seller. Get the seller to transfer their mortgage to you. Apply for a loan assistance program.