529 Savings Plan for Down Payment?

[Account Closed]

Hey! I am thinking of buying a property close to campus for my fifth year and using the FHA 3.5% down payment. My close friends are likely to be my tenants for the first year. My parents still have money saved in a 529 plan for me and I saw that they can use that for mortgage payments, but I am wondering if that can be used for the down payment (if I am still a student at the time).

Thanks