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Friends and family mortgage

Better together - share a mortgage with your family and friends

The Friends and Family Mortgage makes it easier for you to afford a home by allowing up to four people to get a mortgage together.

It’s a great option if you have family who want to help you buy a home, if you’re a multi-generational family living together, or if you’re not part of a conventional two-income family. Not everyone sharing the mortgage has to move in, but one owner needs to live there - you can’t use it as a rental property. Available for all Meridian mortgages.

parents and grandparents playing with granddaughter

What you need to know about joint ownership


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Shared liability

All co-owners are equally and 100% liable for the mortgage if someone cannot pay or wants to sell. This applies even if you each hold different shares of the home’s equity.

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Legal joint ownership agreement

Getting legal advice and setting up a formal agreement is a great way to smooth over any future conflicts - like what happens if someone wants to sell or move out. Legal advice is not required as part of the application process, but we highly recommend it.

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House rules

Home ownership can come with as many challenges as rewards, especially if you’re all living together. Even if you don’t set up a legal agreement, it’s important to agree on how you’ll make decisions about your home - like how you’re going to share the costs of property taxes, utility bills, insurance, and repairs.

Be mortgage free sooner

We call it 20/20 prepayment. Pay off up to 20% more of your mortgage each year through a combination of prepaying more of your original principal balance and increasing your original mortgage payment.

What kind of mortgage do you want?


Construction mortgages

Build from scratch or improve a fixer-upper with options designed for construction and renovation.

Variable rate mortgages

With a rate that goes up or down depending on the market, you could save on interest.

Fixed rate mortgages

Lock in a great rate and enjoy interest and payments that stay the same even if the market shifts.

High ratio mortgages

Buy with less than 20% down to get into the market faster. Great for first-time buyers.