It’s a scenario that comes up more often than you’d think: parents want to buy a condo or home near their child’s college — somewhere the student can live instead of paying dorm or apartment rent, and that the family might hold onto as an investment afterward.
It’s a smart idea in the right market. But the financing can be trickier than it looks, because how the property is classified — owner-occupied, second home, or investment property — has a significant impact on your rate, down payment, and loan options.
Here’s how it works under current guidelines. [Read more…]
More families are choosing to live together across generations — whether to care for aging parents, support adult children, or simply share the costs of homeownership. If you’re considering buying a multi-generational home in Washington State, here’s what you need to know about how financing actually works. 
Editor’s Note: This post has been updated to reflect current guidelines. While Fannie Mae and Freddie Mac no longer use the specific “Family Opportunity Mortgage” name, the expanded occupancy guidelines that allow this type of financing are still fully available and actively used today.
