using a kiddie condo loan for your college student- kiddiecondoloans.com

Using A Kiddie CondoLoan For Your College

Student

KIDDIECONDOLOANS.COM

KIDDIECONDOLOANS.COM LENDER HOTLINE: 888-581-5008

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The fall semester is right around the corner and a lot of families

will be sending students to school for the first time. While this

can be a very exciting time, it can also be very stressful! Along

with all of the excitement, students will be racking up quite the

bill! Tuition, books, food, etc. There are so many costs

associated with college, but you can take the financial heat off

yourself and your student by using a kiddie condo loan on off-

campus condo or house! Dorm life can be a lot of fun but also

very expensive, off-campus housing options tend to be much

more affordable. Before signing up for a kiddie condo loan, here

is some important info:

Who Can Sign?

Maximum Loan-To-Value

Is This Technically a 2nd Home?KIDDIECONDOLOANS.COM

LENDER HOTLINE: 888-581-5008


Who Can Sign for A Kiddie Condo Loan?

Every person on the kiddie condo loan is liable for fullrepayment, and each person who is on the loan must sign.The lender will set credit score guidelines that must be metby each person on the loan. This type of loan has veryspecific and strict guidelines in order to prevent parents ofyoung adults from developing massive portfolios of rentalcompanies.



Maximum Loan-To-Value

The maximum loan-to-value rate on a kiddie condoloan program is 75 percent. This means that if the loan-to-value rate is 75% or below, the non-occupyingborrow can have a multiple unit property. However, ifthe loan-to-value ratio is higher than 75%, the non-occupying borrow is limited to single unit property



Is This Technically a 2nd Home?

NO. The whole point of a kiddie condo loan is for a parent ofyoung adult (usually a college student) can assist them bysigning on an FHA loan, nicknamed a “kiddie condo loan”.Because of this, the property you take out the loan on will notbe considered a second home OR an investment property. Thisallows you to save a considerable amount of money because isnot technically an investment property. What you can do is rentout part of the property to roommates, depending if you haveenough size. Renting out space in the property is also a reallygreat way to help cover the cost of the home.



A Great Option For the Fall

With the large amount of money that college

students spend throughout the school year, a kiddie

condo loan is a great way to alleviate some of the

financial burden of college. Make sure before you

sign up for one that you completely eligible and that

is the best option for you and your student.



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Justin McHood is Americas MortgageCommentator and has been providing

Mortgage commentary for over 10 years.

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