Broke college kid

[Diana Muturia]

I am a broke college kid and I did some homework on how to have my apartment pay for me and itself through multifamily duplex. I found a great apartment for sale close to my campus. I want to rent out the other 3 rooms to cover for expenses and a borrowed loan.

My question is, how likely am I to get a  house loan as a college kid no credit? If there are obstacles, what are they and how can I overcome them? 

I am willing to get into details about how far I am into making the necessary steps, but I want to start off from somewhere.

[Austin Youmans]

A conventional loan varies but goes up to 20% downpayment which would be about $40k for you plus closing costs.

I'm assuming you don't have that since you said you were broke but if you look into FHA loan it is 3.5% down which would be $7k for you plus closing costs. This is a owner occupied loan so you would have to live there for one year to qualify. You can buy up to a 4 plex with this loan.

I don't know if a bank will let your mom partner as she does not live in the country but that is a question for the lender.