A 30-year rental loan is a fixed-rate loan option, designed for real estate investors to purchase or refinance an individual investment property. After funding, real estate investors rent out the individual units to long-term tenants or vacation rentals.
The rental income generated from the property is used to pay off the loan over time. Typically, these are rate and term or cash-out refinance type loans. Since these hard money loans are typically for business purpose, no personal income verification is required.
Rental loans for individual investment properties use potential monthly cash flow, FICO credit scores and minimal documents to approve or deny applicants.