FHA Kiddie Condo Program
Do you want to help your child or a relative buy a home by offering to co-sign?
Are you the parent of a college student and would like to help them buy a condo or home to live in during school?
Then the FHA "Kiddie Condo" program may be right for you. Fewer and fewer lenders over the past several years will allow a non-occupying co-signer, even if that person is a parent or blood relative. However, FHA's program has been around for years and has not changed significantly. Through the FHA Kiddie Condo program, a blood relative can help their family member buy a home or condo by co-signing on the loan.
Kiddie Condo Highlights:
Co-signer must be a blood relative.
Co-signer's assets, liabilities, and credit rating are all factored into the approval.
The property doesn't have to be a condo. Any FHA-eligible property is acceptable.
Primary borrower does not have to be a college student or the co-signer's child.
Only 3% down payment required- down payment assistance programs are available!
Help your loved one realize the dream of home ownership and build their credit rating.
For more information, click here, or call RJ Baxter at 303-670-0137.
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