CO-BORROWING TO BUY A HOME IS GAINING POPULARITY

Source: Market Watch 

Home buyers are increasingly taking on co-borrowers to help gain an edge, defray costs and shoulder the burden in a housing market characterized by relentless demand and tight inventory.

A new report from real estate information provider Attom Data shows that in the second quarter, 22.8 percent of mortgage purchase applications involved a co-borrower, up from 21.3 percent in the prior quarter and 20.5 percent in the year earlier.

There are dozens of programs, and a few private companies, that act as co-borrower by offering down payment in return for a share of equity in the home.

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http://www.marketwatch.com/story/co-borrowing-to-afford-a-home-is-gaining-popularity-whos- doing-it-and-why-2017-09-06