One of the biggest misperceptions in the co-housing community, is that the property needs to be paid for with cash.

Here is information about one set of options, a hard money loan. Let’s say that you want to purchase this duplex in Western Washington. This sweet little property is listed at $305k. You and your co-housing partner are ready to buy.

A bridge loan is a type of hard money loan that is a temporary loan. This would get you into the unit while you look for long term financing.

In this case you and your co-housing partner(s) would use your credit score and liquid assets to qualify. No income requirement. You come up with $35k each for down payment and closing costs. Often these loans are funded within one week.

There are also No Doc loans and other hard money loans available for you to get started.

Note: talk to your lender to learn more.

*** This is a real listing for a duplex in western Washington that is located in a small town west of Olympia.