Divorce is never easy, but dealing with the mortgage can be one of the most stressful parts. You're not alone in feeling overwhelmed by the financial implications of your divorce settlement. Let National Mortgage Home Loans guide you through refinancing your mortgage after divorce, giving you a fresh start.
”At NMHL, we work with borrowers in exactly this situation every day. We understand the uncertainty, the frustration, and the worry that comes with navigating a mortgage during a significant life event. You are not alone, and your situation does not have to be a barrier to homeownership.
Our licensed loan officers specialize in finding the right path forward for borrowers in complex circumstances. Whether your situation requires specialized documentation, alternative qualification methods, or simply a lender who takes the time to understand your full financial picture, we are here to help you move forward with confidence and clarity.
Your Path Forward
Proven Solutions for Your Situation
Rate-and-Term Refinance for Divorce Settlements
Refinance your existing mortgage into your name only, satisfying the divorce decree requirements while potentially securing a better interest rate. Our loan officers specialize in helping recently divorced borrowers qualify on single-income applications.
Cash-Out Refinance for Equity Buyouts
Tap into your home's equity to buy out your ex-spouse's share, keeping your home while fulfilling your divorce settlement obligations. Our cash-out refinance options allow you to access up to 80% of your home's value.
FHA Streamline Refinance for Minimal Hassle
If you currently have an FHA loan, an FHA streamline refinance may be the simplest way to refinance after divorce, requiring minimal documentation and potentially no appraisal.
NMHL Pre-Approval for Divorce Refinances
Get pre-approved for your refinance with National Mortgage Home Loans and receive a clear picture of your refinancing options, including rate, terms, and costs. Our pre-approval process is fast and straightforward.
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Understanding Your Refinancing Options After Divorce
Divorce can be a complex and emotionally challenging process, and dealing with the mortgage can be one of the most significant financial hurdles. Refinancing your mortgage after divorce can help you achieve a clean financial start. At National Mortgage Home Loans, we specialize in helping borrowers like you navigate the refinancing process.
There are several refinancing options available, including rate-and-term refinance, cash-out refinance, and FHA streamline refinance. Each option has its benefits and is tailored to different needs and situations.
Get started with a NMHL pre-approval in as little as 24 hours
Rate-and-Term Refinance: Simplifying Your Mortgage
A rate-and-term refinance allows you to refinance your existing mortgage into your name only, potentially securing a better interest rate and satisfying the divorce decree requirements. This option is ideal for those looking to simplify their mortgage obligations and remove their ex-spouse from the loan.
- Remove your ex-spouse from the mortgage
- Potentially lower your interest rate
- Satisfy divorce decree requirements
Our loan officers specialize in helping recently divorced borrowers qualify on single-income applications
Cash-Out Refinance: Funding Your Equity Buyout
If your divorce settlement requires you to buy out your ex-spouse's equity share, a cash-out refinance can provide the necessary funds. By tapping into your home's equity, you can keep your home while fulfilling your divorce settlement obligations.
With NMHL, you can access up to 80% of your home's value through a cash-out refinance. Our competitive rates start at 6.5% APR, and our loan officers will guide you through the process.
Get a clear understanding of your refinancing options with NMHL pre-approval
FHA Streamline Refinance: Minimizing Hassle
If you currently have an FHA loan, an FHA streamline refinance may be the simplest way to refinance after divorce. This option requires minimal documentation and potentially no appraisal, making the process faster and less stressful.
With NMHL, you can complete an FHA streamline refinance in as little as 15 days. Our loan officers will handle the paperwork, so you can focus on your new beginning.
Fast and straightforward FHA streamline refinance with NMHL
Getting Started with NMHL Pre-Approval
The first step in refinancing your mortgage after divorce is to get pre-approved. With NMHL, you can receive a pre-approval in as little as 24 hours. Our loan officers will review your financial situation and provide a clear picture of your refinancing options.
To get started, simply contact us or apply online. We'll guide you through the pre-approval process and help you achieve your financial goals.
Apply now for NMHL pre-approval and take the first step towards a fresh financial start
Frequently Asked Questions
You can refinance as soon as your divorce decree is finalized and recorded. Most lenders require a copy of the final decree showing the property and debt division. With NMHL, you can get pre-approved quickly and start the refinance process right away.
Yes, you can qualify for a refinance based on your individual income. Lenders will evaluate your credit score, debt-to-income ratio, and income stability. If you receive alimony or child support, those can be counted as income to help qualify.
In most cases, you don't need your ex-spouse's cooperation to refinance. The divorce decree typically grants you the right to refinance. A quitclaim deed may be needed to transfer title, and your attorney can help enforce the decree terms if needed.
A cash-out refinance allows you to tap into your home's equity to fund the buyout of your ex-spouse's share. You can access up to 80% of your home's value, and the new loan will be in your name only, satisfying the divorce settlement requirements.
Refinancing after divorce may have a minor impact on your credit score due to the hard inquiry and new loan. However, making timely payments on your new loan can help improve your credit score over time. NMHL's loan officers can help you understand the potential impact and plan accordingly.
A rate-and-term refinance changes the existing loan's interest rate, term, or both, while removing your ex-spouse from the loan. A cash-out refinance allows you to tap into your home's equity, providing funds for the equity buyout or other needs. Both options are available through NMHL.