Section 502- Rural Housing Loans

[Natalie Kolodij]

Hey guys, 

I would love to find out any key information or reg flags people have encountered with this loan program. Where I'm currently renting qualifies- I was planning to wait a year or two before buying this this program may offer me a good option in lieu of renting. 

I would like to purchase a property to do a 2 year live/flip. 

It's my understanding that you can roll some repair costs in with this loan- and that this is traditionally a 0 down loan. Is this still accurate? If repairs are rolled in does it require 3.5% like a 203k? 

Any information on the process, details, how long the funding takes to get in place would be greatly appreciated! 

-Natalie