(778) 668-9320 scott.dawson@verico.ca

Getting divorced is never easy. Aside from the emotions involved with a separation, there are several things to consider and act upon relative to your current mortgage.

Divorce Mortgage

Once your separation agreement has been finalized, some action needs to be taken. The main questions that need to be addressed are 1.) if you will be buying a new property, or 2) staying in your existing one?

In the event of a New Purchase, here are a few areas to consider:

• Will you be keeping or selling the existing house?

• What can you afford relative to your current financial situation?

• Will one of you be coming off title (should either of you keep the existing residence)?

• How will you secure a down payment for the new property?

In the event of a Refinance, here are a few things to consider:

• Can the equity in the property be used to consolidate joined liabilities?

• Is there enough to provide a payout if there is a liability in question to the other party?

How can a mortgage broker help with a divorce mortgage refinance?

By working with a mortgage broker we can help you navigate whatever scenario best applies to your situation personal situation all while coaching you on how to maintain a positive credit rating.

A traditional Refinance would limit the access to the equity in your property to 80% of its value (minus the mortgage). As an independent mortgage broker we have the ability to work with you and free up the equity to 95% of the value of your (minus the mortgage) all while maintaining best mortgage rates.

We understand that going through a divorce can be an extremely difficult period in your life. Take comfort in knowing we have helped several individuals in your exact situation get back on track.

Do you need more information on Divorce Mortgages?

Contact us today so that we can discuss your current situation and explore all options to help you move on with you life.
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