Divorce mortgages

If you are going through a divorce, we can help

Many couples who are going through a divorce will have a difficult time un-tangling their finances.  One of the complicating factors of a divorce is how to handle the division of assets.  Some spouses need to buy their partner out, or the home may be put up for sale and each spouse may need to purchase a separate home.  There are many ways that we can help you to make your divorce proceedings smooth and easier.

Finance your home with 5% down

5% down-payment is the technical minimum requirement for purchasing a home, and 20% equity is normally the minimum equity needed to refinance.  However, even if you are in a situation where you are buying your spouse out with a refinance, we can do the mortgage for you with just 5% equity!  This will often give people who wish to keep their matrimonial home the ability to do so while paying out their spouse.  The primary requirement for this is for a separation agreement to be in place.

Second mortgage financing

Another way we can help you with financing in a divorce situation is secondary financing.  A good example of when this would make sense is in situations where the penalty cost is prohibitive to pay out or if one or both parties has had recent derogatory credit preventing them from obtaining primary financing.

Consolidating debt

If debt levels make it difficult for the divorce to proceed, it is also possible that taking equity out of your property may help to alleviate the stress of the divorce.  This could be combined with the spousal buyout or done through a second mortgage.

If you need help, contact us!

There are many different individual situations and challenges that divorcing couples could face.  We can help by looking at your individual circumstances and coming up with a customized solution that helps to make the process of untangling finances easier.  Contact us today for a free consultation on how we can help you.