Online loan broker E-Loan plans to soon introduce a mortgage to facilitate homebuyers purchasing as tenants in common.
The company expects to begin offering the loan in 45 to 75 days. Details are still being worked out, but the loan is expected to be a 30-year fixed rate loan that might allow several buyers to purchase a building with up to 15 units as a TIC.
The new loan product could also allow homebuyers to enter such a transaction more easily and with less risk.
For this complete story, please visit E-Loan to Launch Controversial TIC Mortgage.
