Just received this email from Karen Hlinka at Washington Federal Saving and Loan. They have a loan program for the parents of a student to buy a second home in the parent’s name for the student to live in. Rates are real reasonable. And given the high affordability of homes these days, this might just be away to beat the higher tuition and other education expenses for the coming years.
Here’s Karen’s email:
Do you know of someone who has tried to buy a home for one of their kids but couldn’t do it because the secondary market will only finance it as an investment?
Washington Federal has the solution:
Regardless of how close the home is located to the borrower or if they have a second home already, we can look at this transaction as a second home purchase providing the occupant does not own real-estate and is a family member. These loans are priced .375 over conforming pricing and are considered second homes.
Call me today to find out more information on this unique financing alternative.
Karen Hlinka
Branch Manager
Magnolia Office
3219 W. McGraw St.
Seattle, WA 98199
P (206) 284-5171 F (206) 284-5172
Or you can call me to find out what kind of housing near the University of Washington is available for your student.
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