01. A payout number that works.
We check the math before the agreement is final, so the number in it is one you can finance.
Keep the home. Buy out the equity.
A regular refinance caps you at 80% of your home's value. A spousal buyout program can go up to 95%, as long as the extra money pays out your former partner's share under a signed separation agreement. That gap is often the difference between keeping the home and selling it.
We check the math before the agreement is final, so the number in it is one you can finance.
I run your numbers early, so there are no surprises late in the process.
Child and spousal support you receive can count when it's documented.
I line up timelines and the wording lenders need to see.
If you're under 80%, you may not need the program at all. I'll show you both.
You get straight answers and no pressure.
Your home is worth $400,000 and you owe $280,000. Your former partner's half of the equity is $60,000, so you need a $340,000 mortgage (85% of the value). A regular refinance tops out at $320,000. A spousal buyout can go up to $380,000. Mortgage insurance applies above 80%, and the premium is added to the mortgage.
“Separation is hard enough without guessing whether you can keep the house. Call me before the agreement is signed, so the number in it is one you can actually finance.”- Jeremy LaHaie
Yes. Lenders need a signed agreement showing the buyout amount. A verbal deal or a draft isn't enough.
You'll need to. Support payments you receive can count, usually with the agreement and proof you've been receiving them.
In most cases, yes, with a signed agreement. We'll confirm with the lender for your situation.
Some lenders allow joint debts listed in the agreement to be included. Ask me early so we can plan for it.
Legal fees, an appraisal, a possible penalty for breaking your current mortgage, and the insurance premium if you're above 80%.
Before you sign. It's much easier to set a buyout number you can finance than to fix one after.