<p>My friend lives in a dilapadated house that they do own in West Virginia. Though FAFSA does not include that as an asset, the PROFILE schools to which she applied did. Not that it mattered all of that much, since the schools do not guarantee to meet 100% of need anyways, and fills the packages with lots of loans. It can really be a nasty surprise to get that fin aid determination after thinking that you are set with the EFC calculators. They really should not call it EFC, but really a Qualifier, since really it has little to do with what you are going to get the vast majority of times and just confuses matters.</p>