Trying to figure out where your college student will live while he/she is at school?
- Dorm is reserved for freshman?
- Frat house is only for parties?
- Off campus apartments are in terrible condition and expensive?
Consider buying an affordable housing condominium for your student instead!
Using FHA loans, you can qualify as a non-occupant co-borrower and have your child on the loan to purchase a great condominium or townhouse near campus.
Why would you consider it?
First of all, Credit. This is a great credit builder.
Secondly, most students prefer living with a roommate, who pay rent to your child which can go to paying the mortgage.
Third, responsibility... owning as opposed to renting means your students have to learn to take care of the place.
Fourth, the tax benefits of having more mortgage interest deductions (consult your CPA)
Fifth, there's a better market to resell an affordable house/condo than a run down duplex near campus. Believe it or not!
For more information, visit the full article at -o-> Florida Affordable Housing | College Students’ perfect place to live