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Updated about 9 years ago on . Most recent reply

User Stats

16
Posts
3
Votes
Jacob Rogers
  • Cedar Rapids, IA
3
Votes |
16
Posts

Can I get a USDA Loan as a college student?

Jacob Rogers
  • Cedar Rapids, IA
Posted

Hello everybody!

My name is Jacob Rogers and I am currently a Sophomore at Iowa State University in Ames, IA. I just learned about real estate investing at the beginning of this year and have been trying to learn everything I can since then (in between studying and classes of course). My question is, as I am a college student, I have very little money but am excited to get into this wonderful world. The problem is that there are almost no multifamily properties that I could house hack in Ames. However, I found a relatively cheap tri-plex in Story City which is about 20 minutes North of Ames. Story City has a small population that would allow it to be eligible for the USDA Rural Development Direct Loan and would let me enter for almost no money down. I am wondering whether or not, as a college student, I would be able to qualify for such a loan? 

Any advice or input would be great. Thank you so much!

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