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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.

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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
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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

J Adams
J Adams
July 19, 2022.
I cannot say enough good things about Dan and his team. As a first time home buyer in a high market, I thought I had done my research and new what I was looking for. I contacted Dan and he clearly explained how the process works and gave me great options that ended up being better than I thought I could get. After this the process only got easier. Dan and his team clearly communicated what they needed and made what I thought would be a stressful experience easy. I will recommend Dan to anyone i know looking for a loan.
Mj VanCamp
Mj VanCamp
July 18, 2022.
Dan is an exceptional mortgage broker! He really knows the industry. He's honest, creative, and can definitely get the best mortgage rates in Michigan. I am very glad we did business with Advantage Lending. I highly recommend using Dan and his team.
Marilyn Swinteck
Marilyn Swinteck
July 16, 2022.
Dan Litvin was extremely knowlegable and professional during the process of buying our new home. He gave insight which was very reassuring and always had time to answer multiple questions and concerns. We would highly recommend him.
Lisa Jacobs
Lisa Jacobs
June 11, 2022.
We had been asking our current mortgage company to refinance our loan for months and the responses we were getting included everything from "we're working on it" to "we're holding off until rates drop some more." A quick phone call with Dan got the ball rolling on the easiest mortgage refi EVER with rates significantly lower than what our current mortgage company was offering. Dan has a great team that will get the job done painlessly and efficiently!
Daniel Lunghamer
Daniel Lunghamer
May 31, 2022.
Dan Litvin and the Advantage Lending Corp team got me the best mortgage rate I could get. I am so impressed with their team and I would only refer others to use these guys! Thank you again!
Kathleen Prokop
Kathleen Prokop
May 25, 2022.
Mike Johnson
Mike Johnson
May 24, 2022.
Dan and Melony at Advantage Lending were great. They made getting a mortgage a breeze. Phone calls, emails, and text messages were retuned promptly. We never had to leave a voicemail. They were always on time. They walked us through the process every step of the way. They will be my first call when I need another mortgage.
Kevin Martin
Kevin Martin
May 15, 2022.
Dan and his team were great to work with. They were very helpful, very responsive, and able to get me an excellent rate.
Allison Friebe
Allison Friebe
April 15, 2022.
As a 1st time home buyer Dan made the lending process painless. He took the time to explain all of the costs I should expect from day 1. When the finalized loan estimate was established he walked me through line by line. Truly appreciate his patience with my novice questions! Dan and his team are quick to move and very responsive...exactly what you need in a hot housing market!
SRTSmitty
SRTSmitty
April 6, 2022.
When my fiancé and I were looking to buy our first house we didn't know where to begin until we met Dan from Advantage Lending. Our first conversation lasted over an hour as he explained everything to us about the home buying process. Dan got us approved and in our home in less than one month. Needless to say, Dan is the man and I will personally recommend anyone to enjoy his wonderful services. You rock Dan! Hunter & Amanda.
Hundreds Of Five Star Reviews
5/5
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