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The friends & family

There’s strength in numbers

Join forces. Pool your resources.


In a housing market like this one, renting or living with your parents for an eternity might feel like a forgone conclusion. There’s hope.

The motusbank friends & family mortgage is a cool way for people to pool their money and afford a larger shared home. Up to four people can go in on a mortgage together, and you don’t even need to be married or related to qualify.

Before going this route, read on for some tips and suggestions. Avoid common pitfalls and get the most out of your shared space and investment.


It’s perfect for anyone who might not
qualify for a conventional mortgage on
their own. Friends, a parent and child, multigenerational families, or a couple
of couples.


It can be applied to any motusbank


It includes a flexible repayment
schedule and 20/20 repayment
privileges. Plus a skip-a-payment
feature and a 90-day rate guarantee.


Consider a joint ownership agreement


Buying a home with your friends or family will probably be the biggest investment you’ll ever make together. A joint legal ownership agreement isn’t a requirement for a friends & family mortgage, but it’s a good idea. Life happens. Sometimes it gets complicated.

If you want our advice, talk to a lawyer. You’ll need a lawyer anyway to buy your property and finalize the mortgage before closing. A joint ownership agreement can outline everyone’s rights and responsibilities. This way you’ll all be on the same page.

Final thoughts

You’re all on the hook for the mortgage, even if you don’t each own equal
parts of your home. If problems come up between you and your co-owners,
talk to your lawyer. Especially if you need someone to mediate or enforce your agreement.
To make your mortgage payments, you’ll need to open a motusbank account,
 joint with everyone named on your mortgage title.

Applying is easy

Apply, renew, switch or refinance your motusbank mortgage online or give Member Service a call. They’ll get you sorted.