12/21/2021
The increasing unaffordability of homeownership has left many prospective homeowners, especially the young professionals adrift, but there are alternatives to achieve the American dream!
Co-ownership involves buying a home with one or more other people, which can be your partner before marriage, relatives, or close friends. All co-owners will be on the title and likely also the mortgage loan. Title options can either be:
Tenancy in common - each person's share of ownership is equal to how much money invested in the property
Joint tenancy - each person shares equal ownership in the home, regardless of how much one has invested
But remember, going into co-ownership with someone you're not related to can be a bit trickier.
So call Your Lender Alex Team to help sort out the process for you!
