Skip to content

Refinance Divorce Buyout

Get the Financial & Mortgage Expertise You Need Through This Time of Transition.

Getting Divorced has its own set of hurdles and Issues.  One of the biggest questions for many divorcing couples is what will happen with the current mortgage and home that you both have a financial liability, equity, and ownership in?

To get answers to these question and other related questions surrounding mortgages and divorce, you need a mortgage broker with an extensive knowledge of loan programs designed specifically around divorce and real estate.

refinance your home in Michigan

Specialty Loan Programs Just for Divorcing Couples

For most loan programs, taking money out of your house for any reason is considered a cash-out refinance.  However, both Fannie Mae and FHA have a specific divorce buyout option, which allows you to take money out of your house to pay off an ex-spouse without the cash out refi penalties. 

This is a huge advantage few banks, lenders or mortgage brokers know about that will provide you with lower interest rates, lower monthly payments, and lower closing costs than a traditional cash out refinance.

Additionally, the divorce buyout option also allows for a much higher Loan to Value (LTV) than a traditional cash out refinance.   A normal cash out refinance is limited to 80% of your homes current value.  The divorce buyout option allows you to take out up to 95% of your home’s value through Fannie Mae and 97.75% through FHA.

Easy Quote

Pop Out Request Form

Why Do You Need a Mortgage Broker with Specific Experience and Knowledge in Divorce Related Mortgage Financing?

  • Get answers to your questions about refinancing or buying a home before, during or after your divorce. We can discuss your specific set of needs and goals related to mortgages that are unique to you.
  • Discuss issues related to the deed on your house, what a quitclaim deed is and how using a quitclaim deed does not remove the exiting spouse’s obligation on the mortgage.
  • Have someone that can explain what will happen at closing, whether your ex-spouse will need to attend the closing and what documents they will have to sign depending on if your divorce is final yet or not.

Every divorce is unique, and every client’s needs are different.  We are here to help you through this frustrating and emotional financial step. 

Rely on Advantage Lending Corp for the highest level of client care and communication to ensure a smooth and efficient experience.  Call us today at 248-608-RATE

Refinance Divorce Buyout in Rochester Michigan

Mortgage Calculator (Estimate)

Whether you’re interested in taking cash out of your house, consolidating debt, reducing the term of your loan, lowering your monthly payment or removing someone from your existing loan, we have an option to fit your needs! Call us to get exact numbers. (248) 608-RATE
[mcwp type=”rc”]

Popular Home Loan Programs

Conventional Loans

Used for Primary Residence, Second Homes and Investment properties.

FHA Streamline Refinance

A FHA Streamline is a mortgage with reduced documentation, does not require an appraisal.

Fixed Rate Mortgages

Available on all loan types: Conventional, FHA, VA, RD Loans, Reverse Mortgages, & more.

FHA Loans

Used for Primary Residence only and are HUD insured.

VA Loans

Used for Primary Residence only and are insured by the Department of Veterans Affairs.

Jumbo Loans

Used for Primary Residence, Second Homes and Investment properties. Loans over $647,200.

Reverse Mortgages

Used for Primary Residence only and are HUD insured. Must be 62 years of age or older.

USDA Zero-Down Loans

Used for Primary Residence only and are HUD insured. Typically rural properties.

Bank Statement Non-Conforming Loans

Used for Primary Residence, Second Homes and Investment properties. For the self-employed.

203k Home Improvement Loan

HUD’s program for the rehabilitation and renovation of single family properties.

See What Our Clients Are Saying About Us

Hundreds Of Five Star Reviews
Equal Housing Opportunity

NMLS Company Look Up | NMLS #128031