Redwood Credit Union Sees Shared Property Ownership Lending Double in San Francisco as Buyers Seek More Affordable Homes
Tenancy-in-common properties now represent about half of Redwood Credit Union’s financed home purchases in San Francisco Redwood Credit Union (RCU) has seen its tenancy-in-common (TIC) lending in San Francisco more than double as buyers seek more affordable homes. Tenancy-in common properties now represent about half of Redwood Credit Unions' financed home purchases in the city. TICs allow two or more people to own fractional interests in the same property, with each owner typically having exclusive rights to occupy a specific unit. An analysis of higher-priced San Francisco neighborhoods found that TICS sold for 19% less per square foot than condos, at $1,163 versus $1.434. Redwood CEO Brett Martinez said TIC loans provide a way to establish a home and build a future in one of the country's most expensive housing markets.
Pubblicato : 2 giorni fa di in Business Finance
Tenancy-in-common properties now represent about half of Redwood Credit Union’s financed home purchases in San Francisco
SANTA ROSA, Calif.--(BUSINESS WIRE)--With San Francisco home prices remaining ... [2981 symbols]
