What options do I have to help my college bound son or daughter purchase a home while they are in school and not working?

Option 1:  The son/daughter would be the primary borrower with parents co-signing (using the parent’s income to qualify) on an FHA loan. (This is also commonly referred to as a kiddie condo loan.)


  • Son/daughter must have decent credit (must meet the minimum credit score outlined by the lender for FHA loans)
  • Son/daughter does not have to be working or receiving any income
  • Parents will be co-signer and their income must support their monthly debts as well as child’s debts and new mortgage payment



Option 2:  As long as the property is a reasonable distance from the parent’s home – parents can purchase the home as a 2nd home (with same or similar rate to primary home purchase).


  • College bound son or daughter to reside in the one unit second home residence purchased by their parents
  • Child must document they are currently enrolled in college
  • Subject property must be within a reasonable proximity to the university the child is attending
  • The property can provide the parents a place to stay while visiting the campus but will be child’s primary residence
  • Property cannot be rented and must be occupied by the child for a minimum of one year
  • Parent’s cannot own additional second/vacation homes in the same locale
  • Parents apply and qualify for the loan – child is not an applicant
  • Parents own the property but child may join the parents on the title (child not required to be on title)
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  • David Krushinsky

    David Krushinsky

    VP · Mortgage Consultant
    NMLS# 202115

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    14100 N 83rd Ave B-230
    Peoria, Arizona 85381
    (602) 456-2195
    NMLS# 202115
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