Pre‑Approvals & Planning
Know your options before you commit to a buyout, refinance, or move.
Why pre‑approvals matter during separation
A divorce or separation changes how lenders look at your application. Before you commit to a buyout, refinance, or move, a pre‑approval helps you understand what is realistic and what documents you will need.
Key requirement for traditional pre‑approvals
To obtain a traditional mortgage pre‑approval (bank / A‑lender) during separation, lenders typically require a signed separation agreement (or a court order) that clearly confirms how property and debts are being handled. This gives the lender confidence that a new purchase will not be pulled into unresolved divorce proceedings and that your financial obligations are clearly defined.
What lenders will review
- Your income and employment stability
- Your credit history and current debt payments
- Any spousal or child support obligations (paid or received)
- Existing joint debts, including the current mortgage
- Down payment source and timing (especially if equity is coming from the family home)
How to plan your next step
- If the separation agreement is complete: we can proceed with a standard pre‑approval strategy.
- If the agreement is not complete yet: we can map out what will be needed and explore interim options like private or alternative lending or bridge financing where appropriate.
What to expect
- Quick review of your goals: buy, refinance, or buyout.
- Confirm what separation documentation is available (agreement / draft terms / court orders).
- Determine a realistic budget and down payment plan.
- Select a lender strategy (traditional, alternative, or private if timelines are tight).
- Pre‑approval and a clear next‑step checklist.
If you are considering purchasing a home before the divorce is finalized, read: Buying a Home Before Your Divorce Is Final.