Clarity during a life change.
A divorce usually means a decision about the house. Whether you plan to keep it, sell it, or buy a new one, the mortgage side has its own rules, and knowing them early can save you from an agreement that does not work on paper.
Who it is for
- A spouse who wants to keep the home and needs to refinance in their own name
- A spouse buying out the other’s share of the equity
- Someone buying a new home during or after a divorce
- Attorneys and mediators who want to confirm a proposed settlement is workable
What you will need
- Photo ID for each borrower
- Recent pay stubs and the last two years of W-2s, or tax returns if you are self-employed
- Recent statements for the accounts holding your down payment and reserves
- Permission to check your credit
- Your separation agreement or divorce decree, or the draft if it is not final
- Documentation of any support you pay or receive
Good to know
- Removing a name from the deed does not remove that person from the mortgage. Taking someone off the loan usually requires a refinance.
- Support you receive may count as income. Lenders generally want to see that it has been received and that it will continue.
- Support you pay is counted as part of your monthly obligations.
- Talking to a lender before the agreement is final lets you and your attorney structure it so the loan can be approved.
We are not attorneys and this is not legal advice. Please work with your attorney on the terms of your agreement.
Common questions
Can I keep the house?
Often, if you can qualify for the mortgage on your own income. That usually means a refinance into your name alone, sometimes with enough cash out to pay your spouse their share.
What is an equity buyout?
It is when one spouse keeps the home and pays the other for their share of the equity, commonly through a refinance.
Can I buy a home before the divorce is final?
Sometimes. It depends on your state’s rules and on having a signed agreement that documents who is responsible for what. It is worth a conversation early.
Do you give legal advice?
No. We are not attorneys. We explain the mortgage side so that you and your attorney can make informed decisions.
