Spousal Separation Mortgage

January 23, 2024 | Posted by: Cam Brown

 Your home can be the asset that gives both partners a fresh start.

 Many couples assume that the house must be sold – but that’s not always the case. I  have resources that can help one partner remain in the home. The home can be refinanced up to 80 per cent of its value. You’ll need to determine if this equity can pay off joint debt and provide a payout if it’s required. Or one spouse can purchase the home outright from the other spouse who then comes off title. A Spousal Separation Mortgage allows a buyout to 95 per cent, which can provide a fair buyout and possibly pay off any other joint debt.

  • Maybe you want to buy a new home? I can let you know what you can qualify for and what is affordable for you in your current financial situation.
  • Will you need to boost your credit rating? A less-than-stellar credit rating can affect your ability to get the best mortgage rates.  There are  some quick strategies to help you polish your credit and to build (or rebuild) your credit over time.

For many separating couples, their home is their most important asset. That’s why seeking the advice of a mortgage professional very early in the process can help set the stage for a successful separation – so the two of you can each make the best possible start on a new path.

Feeling overwhelmed? That’s normal. Let me help make a challenging time a little more hopeful: with personalized mortgage financing advice.   Divorce or separation doesn’t need to spell the end of financial hope. Contact me Cam Brown at 403 650 5509 or cambrown@invis.ca to take a look at your options – as an individual or as a couple.



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