How Do You Buy a Home
You Can't Afford?

A Tenancy in Common (TIC) is the legal structure that lets two or more people own individual percentages of a single property. Unlike joint tenancy (typically used by married couples), a TIC lets each owner hold a distinct share they can sell, refinance, or pass to heirs independently. Your TIC agreement defines ownership splits, financial responsibilities, decision-making rules, and exit procedures before you buy.

Yes. Lenders evaluate your combined debt-to-income ratio and credit scores—they don’t require a marriage certificate. Co-buying with a partner often increases your purchasing power by 2–4x. The process is similar to any joint mortgage application; you just need a co-ownership agreement that defines what happens if one person wants out.

The home purchase costs are the same as buying solo—closing costs, inspections, and the down payment split between co-buyers. The difference is the TIC agreement: a real estate attorney typically charges $4,000–$8,000 to draft one. Tomi provides the legal framework and AI-guided agreement drafting at no upfront cost.

Your co-ownership agreement includes a built-in exit strategy. Typically this means a Right of First Refusal—remaining owners get the first opportunity to buy the departing owner’s share at fair market value. The agreement also defines notice periods, valuation methods, and buyout timelines so the transition is orderly, not adversarial.

Your TIC agreement defines grace periods, remedies, and consequences before you ever close. This usually includes a cure period (30–90 days), mediation steps, and ultimately a forced buyout provision. Planning for this scenario upfront is exactly why co-ownership agreements exist—it protects everyone.

Equity splits can reflect different down payments, monthly contributions, renovation investments, or sweat equity. Your TIC agreement captures the exact formula your group agrees on—percentage-based, contribution-based, or a hybrid. Tomi helps you model different scenarios so the split feels fair to everyone before you commit.

Your agreement defines a decision-making framework: day-to-day decisions (repairs under a certain dollar amount) can be made individually, while major decisions (renovations, refinancing, selling) require consensus or a majority vote. You set these thresholds together during the agreement process.

It depends on how the mortgage is structured. All co-borrowers on a joint mortgage are evaluated together, so one person’s low score can affect the rate or approval. Some groups work around this by having only the higher-credit members on the mortgage while the other co-owner contributes to the down payment and is on the title via the TIC agreement.

Tenancy in common has been a recognized property ownership structure for centuries in every U.S. state. It’s the same legal framework used in commercial real estate, investment properties, and inherited homes. A well-drafted TIC agreement—reviewed by an attorney—gives you the same legal protections as any other property contract.

A lawyer drafts your agreement after a few hours of consultation. Tomi guides you through the entire co-buying journey—from aligning with your co-buyers on hundreds of decisions, to generating your agreement, to ongoing support after you close. We charge $0 upfront and take a 1% stake realized only when you sell, so our incentives stay aligned with yours for the life of the home.