An agreement in principle is the confirmation by a mortgage lender that they are offering you the necessary mortgage loan, subject to the valuation of the property and proof of your income. However, it is not binding on the lender and you are not required to make a complete application. You can in principle apply for a shared ownership mortgage agreement if: Share-sharing contract bids assume that the resident pays all current ownership costs (including mortgage, property tax, insurance, HOA premiums, maintenance, etc.); However, agreements can be easily changed if the investor contributes to monthly mortgage payments or other expenses. The lender will verify that the property meets its credit criteria and that the requested mortgage meets its accessibility requirements. .