With San Francisco home prices remaining out of reach for many buyers, Redwood Credit Union has seen its tenancy-in-common (TIC) lending in the city more than double as buyers turn to shared property ownership as a more affordable path to homeownership. Between the second half of 2024 and the first half of 2026, RCU’s TIC lending rose 103%, from $48.8 million to $99.3 million, while the number of TIC units financed increased 79%, from 61 to 109.

TICs allow two or more people to own fractional interests in the same property, with each owner typically having exclusive rights to occupy a specific unit. The shared ownership structure can offer a lower-cost route into San Francisco’s housing market.

For one RCU member and their family, a TIC loan provided a way to remain in their home after the owner of their six-unit San Francisco apartment building needed to sell. Faced with the prospect of having to leave, this member and tenants from the building’s other units worked with Redwood Credit Union to collectively purchase the property as six TIC units.

An analysis of higher-priced San Francisco neighborhoods found that TICs sold for 19% less per square foot than condos, at $1,163 versus $1,434, while spending about the same amount of time on the market.

“For many people, the dream of owning a home in San Francisco seems out of reach, and requires some creative thinking to make it possible,” said Brett Martinez, president and CEO of Redwood Credit Union. “TICs have become an increasingly important part of that conversation, especially for those who might otherwise be priced out. Shared ownership provides a way to establish a home and build a future in one of the country’s most expensive housing markets.”

TICs have represented roughly half of the San Francisco home purchases financed by RCU since the second half of 2024. They accounted for 53.5% of RCU-funded purchases in San Francisco during that same period.

“The increased popularity of TICs makes a lot of sense because buyers can get into neighborhoods or properties they might not otherwise be able to afford,” said Debbie Ingle, Senior Vice President of Mortgage Lending. “TIC financing is more specialized than a conventional mortgage, so having a lender that understands the ownership structure and the nature of the San Francisco market is extremely important.”

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About Redwood Credit Union

Founded in 1950, Redwood Credit Union (RCU) is a not-for-profit financial institution serving more than 547,000 members across the Greater North Bay and San Francisco. With $10.3 billion in assets and $13.5 billion in assets under management as of September 2026, RCU provides personal and business banking, lending, wealth management, insurance and auto-purchasing services. RCU is the North Bay’s No. 1 mortgage purchase lender, according to MyMTA data (March 2026).

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