FHA has what is called a Non-Occupying Co-Borrower program and can help college student looking to buy a home in McHenry County. … Credit in this process is very vital….If the student is a first time home buyer, they can take advantage of the $8,000 tax credit, although the NOCB would be unable to do so.
Read more:
College Students and Recent Graduates getting FHA Mortgages
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FHA commissioner, David Stevens, is warning Congress against raising downpayment requirements from 3.5% to 5% as has been suggested as a way to shore up FHA's financial standing.