Kiddie Condo Loan Program for College Students

Buying your first home is a big commitment. With a Kiddie Condo Loan parents can help their young adult children purchase a condo, townhome, single family or multi-unit home to live in while attending college.

Learn the benefits and requirements for this type of loan below.

Benefits:

• Help your college student work towards homeownership instead of paying rent
• Rent out rooms to help pay for mortgage
• Opportunity to build good credit
• Only 3.5% down required for rental property (typically 20% down)
• Low interest rates & fees
• Tax benefits for parents

FHA Requirements:

• One of the borrowers is required to live in the property as their primary residence (college student or family member)
• 3.5% downpayment
• Properties with up to four units
• Mortgage Insurance

Have questions and interested in finding out more? Contact one of our experienced Mortgage Advisors today.