FHA Kiddie Condo Program

In the Silicon Valley, the FHA kiddie condo program is a popular option with Silicon Valley parents who have kids going to college. The FHA kiddie condo program is really just a regular FHA loan with a nickname – mainly because it is used for these college-aged-kids situations.

  • It doesn’t have anything to do with “kiddies”.
  • It doesn’t have anything to do with “condos”.
  • The term “kiddie condo” is just a nickname.

Highlights of The FHA Kiddie Condo Loan Program Include:

  • It allows non-occupant co-borrowers — which means that parents can purchase a condo using their credit and their income but are not required to live in the property – only the co-borrower is required to live in the property.
  • The property is not considered to be a second home or an investment property. Because it is not considered a second home or investment property, the Silicon Valley mortgage rates are the same as the regular Silicon Valley FHA loan programs.
  • The kiddie condo program also allows the occupant to charge rent to roommates!
  • With the FHA kiddie condo program, if used wisely… it can take just a little bit of the financial bite out of going to college.