Attention Sac State Students
A great way for young adults to get started buying their first home is by using the FHA "Kiddie Condo" Loan Program. This type of mortgage allows a person to co-borrow with a blood relative (eg. parent, grandparent, sibling, etc.) who helps qualify for the loan using their income or assets. Both borrowers take title to the property and sign for the loan.
There are three big advantages to using this type of loan.
1. A low down payment (as little as 3.5% of the purchase price).
2. A lower, owner-occupied interest rate on the mortgage Vs the higher investment property interest rate.
3. Helps the new borrower establish a solid credit rating.
Contact Tom Gonsalves 916-202-9784
There are three big advantages to using this type of loan.
1. A low down payment (as little as 3.5% of the purchase price).
2. A lower, owner-occupied interest rate on the mortgage Vs the higher investment property interest rate.
3. Helps the new borrower establish a solid credit rating.
Contact Tom Gonsalves 916-202-9784
Click on Play button below for Kiddie Condo conceptual video!