Fannie Mae-Freddie Mac-FHA: Will FHA or any other agency allow a “kiddie condo” where a family member buys the home, no income is required of the occupant and the minimum down payment is acceptable? [Mortgage Talking Points™ How FHA Defines Family Members]

Answer: Kiddie Condos is slang terminology for a program that was designed to help young adults own their own home. Many times, this started during the college years when parents thought it might be better to buy a home where their adult child was attending college, versus paying the high rent in college towns. The [...]