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Co-op & Co-Ownership Financing


We are your co-op &
​co-ownership experts


We are proud to offer financing for
co-ops & co-ownerships - a unique product offered by very few financial institutions. 


Co-Op and Co-Ownership Financing


A flexible option, giving you more choice when it comes to your home.

Key Features
  • Financing up to 80% of the appraised value of the co-op or co-ownership
  • Amortization up to 30 years
  • Loan terms of 1 - 5 years
  • Fixed and variable interest rates
  • Pre-approvals available

What are co-ops and co-ownerships?

What is a co-op?

In contrast to purchasing a condo or a house where you own the property, when you buy into a co-op, you become a shareholder in a corporation that owns the property. As a shareholder, you are entitled to exlusive use of a housing unit in the property. All of the owners share the use and enjoyment of common elements, or common areas. Typically, the Board of Directors of the co-operative corporation has to give its approval before an owner can sell his or her shares and assign the leashold interst to someone else. Since a co-op does not include ownership of the unit, co-op financing differs from a typical mortgage. Northern Birch is proud to be experts in this department, and offer very competitive financing options for co-ops.

What is a co-ownership? 

Unlike a co-operative, a co-ownership buyer does not generally obtain shares of the corporation, instead the buyer acquires a percentage ownership in the building and the land on which it is located. The buyer then has exclusive right to occupy a particular unit, and similar to co-ops, has shared rights with each of the other owners for access and use of common elements and common areas. Generally, an owner in a co-ownership corporation does not need the consent of the Board of Directors to lease or mortgage his or her unit. The co-ownership Board does not need to be made aware of the mortgage funding.

Call us for our rates

Get in touch with our lending team today to learn more about our rates for co-ops & co-ownerships.