Advice on 2nd Home for College Student to live in

I have a client that wants to buy a house or condo for
her son to live in while he is attending college at UT Austin. Freshman this year.

Since this is her son and not being rented out, how can she qualify for the best rates. My clients lives in Austin and her current home is about 10 miles fron the UT campus.

I would appreciate any guidance and advice.


Depends on credit score

Credit score 720, double income with very little debt other than current mortgage. ( cars paid off, very little credit card debt). She went to her bank but they told her it would have to be purchased as an investment property. She is not looking for a property to generate income she simply rather buy something for her son to live in instead of paying rent for him.

Thnaks you,


If there’s no income coming out of it then it is definately a 2nd home, what is her intentions once her son is out of college? Keep or sell? Also who is going to pay the mortgage? the son or your client, if the son is this could be considered a income property. With that good credit 100% LTV is not a problems on a 2nd home…