---
title: What is a cooperative (co-op)?
description: A housing co-op is a group that owns real estate. Each member has an equal share in the group, which grants them a lease in the building. 
---

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# What is a cooperative (co-op)?

## An autonomous association of individual people united voluntarily to meet their needs and aspirations through a jointly-owned enterprise.

A cooperative, or co-op, is an autonomous association of individual people united voluntarily to meet their common economic, social, and/or cultural needs and aspirations through a **jointly-owned enterprise**. Each person carries an **equal share** of the co-op.

**In mortgage financing, a housing co-op is a group (such as a corporation) that owns real estate.** Each member of the co-op has an equal share in the group, which grants them a lease in the building. 

JVM Lending does not currently offer co-op financing.

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