Buy or Rent?

Uncertain about whether buying or continuing to rent is the right option for you?

Fill out the form below as accurately as possible, and calculate.

  • Length of Stay (Years):
    •  
  • Rent:
  • Rent Inflation Rate (%):
    •  
  • Average Savings Rate of Return (%):
    •  
  • Purchase Price ($):
  • Percent Down(%):
    •  
  • Interest Rate (%):
    •  
  • Term (months):
    •  
  • Annual Appreciation Rate (%):
    •  
  • Your Tax Rate (%):
    •  
  • Real Estate Tax Rate(%):
    •  

Kiddie Condos, all the rage

Purchasing a condominium off-campus offers an economically desirable alternative to traditional room and board. As the cost of on-campus housing continues to rise, the idea of investing in a home while in school has become an attractive option. Many parents are buying condominiums for their college-age children, which may later be used as an investment property.

There is an FHA eligible loan now available for parents and students looking to purchase a home with a low down payment and many other attractive benefits. This financing program known as "kiddie condo" loans, allow students to qualify for the loan using a family member as a co-signer.

  • Low Down Payment, 3% of purchase price
  • Appreciation of Asset
  • Builds Credit History while student is in college
  • Builds Equity
  • Ability to generate revenue from leasing out a second bedroom

PENN Mortgage Program

Penn faculty and staff members can take advantage of the Penn Guaranteed Mortgage Program.