The More Together Mortgage

The More Together Mortgage

Home prices in Ontario have reached record highs, seemingly putting ownership out of reach for many potential home buyers. Not all hope is lost! There are alternatives to consider such as real estate co-ownership. Real Estate co-ownership allows you to share the cost of buying a home with friends, roommates, co-workers, or family members. Combining your borrowing power lets you:

  • Put together a deposit faster, meaning you can purchase a home sooner
  • Have more choice of location, home size and potentially have enough money for needed renovations
  • Potentially have 20 per cent of the purchase price which allows you to avoid paying costly mortgage insurance
  • More easily afford the ongoing costs associated with home ownership like repairs, property taxes, etc.

Creating a Co-Ownership Agreement
It's important when coming together with multiple parties to understand shared responsibilities and accountabilities, and to make sure you have this in writing. A Co-Ownership Agreement is a integral part of a Co-Ownership arrangement.
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Co-Ownership Arrangement Checklist
So you think a Co-Ownership Arrangement is right for you, your friends and your family? Are you ready to take the next step? You can start by working through a checklist to ensure you've checked all the boxes on your way to home purchase.
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Do More - Together
If a co-ownership arrangement is the solution for you, DUCA’s More Together Mortgage is a great option for your financing. You get great mortgage advice and solutions, and you can add up to 6 people to the mortgage title. You also get to enjoy the flexibility and personal service that have become synonymous with DUCA mortgages.

You’ll quickly learn that getting a mortgage with DUCA is different. That’s because we take the time to get to know you, your needs and what you want to achieve. The result? A customized mortgage solution that gives all co-owners more options to deal with whatever life’s thrown at you.