Mortgage with others

[Akea]

I'm located in Portland, Oregon.

And am considering purchase of a home with a shared down payment in order to afford the home in mind.

How many individuals would be allowed in the purchase of one home?

Is this a "Joint Tenants in Common" type of mortgage?

Thank you -
A

[seniorjudge]

Q: And am considering purchase of a home with a shared down payment in order to afford the home in mind. How many individuals would be allowed in the purchase of one home?

A: There is no limit.



Q: Is this a "Joint Tenants in Common" type of mortgage?

A: No such thing. There is joint tenancy with right of survivorship and tenancy in common.

Google both terms to learn about them.

[FlyingRon]

I once owned a property with four other people. All were on the mortgage, all were on the deed.

[seniorjudge]

Originally Posted by FlyingRon

I once owned a property with four other people. All were on the mortgage, all were on the deed.

And was everything copasetic?

Or was there a big lawsuit??

Or maybe just tears and shouting???



Me...I am the eternal pessimist.