Give your kids the gift of home

FHA option most popular with co-signers

If you saw a nice home for sale near a college or university before your youngster began the fall semester, perhaps you could help that child — or another potential first-time homebuyer in your family — get into the door of that home while taking advantage of a terrific tax incentive at the same time.

In a recent article, we explored the possibilities of owning an investment home near a college campus and having a college student live there as an alternative to an on-campus dormitory. What if your child were handed an $8,000 tax credit, or downpayment incentive, to purchase that home? Would that change the picture?