Divorce can have an impact on your financial future, specifically if you own a home. A house is likely one of the most valuable assets a couple shares.
Our Home Loan Specialists assist with preparing and understanding mortgage financing for scenarios such as refinancing the marital home or purchasing a new home after divorce. We can answer questions like:
Discover effective strategies for managing your mortgage after going through a divorce. So, whether you decide to sell your home and split the profits and ultimately buy a new home that you can afford, or to refinance your current mortgage and stay in your family home, we're here to help.
Selling your home due to divorce is a big decision. You'll need to consider the remaining balance on the mortgage currently owe and any equity you may have in the property. This will help determine how the proceeds from the sale should be divided.
Take our Should I Sell My Home? quiz to see if now is a good time to sell.
When going through a divorce, you may consider options for refinancing your mortgage to ensure a smooth transition from married to single.
Refinancing your mortgage involves replacing your exisiting home loan with a new one (under new terms). This can be a good option if you want to remove your ex-spouse's name from the mortgage and take full responsibility for the loan.
➕ Click here to use the Refinance Calculator
After a divorce, budgeting and managing monthly payments become even more essential to maintain financial stability.
Start by reviewing your post-divorce budget and assessing your income and expenses. This will help you figure out how much house you can afford if you're looking to buy.
✔️Click here to run the numbers and see how much you can afford.