Shared Home Ownership? Can You Still Use Your Home Equity?

Here’s a question we get often at HomeRefinanceCoach.com.

“I have a shared ownership. Can i still use equity?”

Before we dive into the answer to this question, let’s first define the term “shared ownership”.  Basically shared ownership is when two or more people own equity in a property.  Most often shared ownership of home equity is between 1. siblings 2. business partners.  These arrangements are the most common.

So can you still use your home equity in this scenario?

The answer is yes.  You can utilize your equity like you would any other home equity loan, contingent on the person that you have the shared equity arrangement with agrees to the terms and willing to sign off on the lender paperwork as a co-applicant. 

If all parties sign, then the rest of the home equity process moves forward in the same way.

Darrin Roseborsky

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