Purchase a Home

Refinancing and divorce

Divorce involves complicated financial matters. Topping that list is jointly owned real estate. If you get the house, what happens next? Are you buying out your partner? What happens to shared earned equity? How will you manage mortgage payments? Can you apply divorce settlements to the loan? Discover the benefits of refinancing after a divorce.

One of the most common ways to address home ownership logistics after divorce is through refinancing. It’s a simple process that allows you to reset the ownership and can provide additional advantages, including:

Refinancing can resolve many home ownership issues after a divorce, but every situation is unique. For example, perhaps you are awarded the house and also receive a lump sum through the divorce settlement. You may want to consider applying that toward your mortgage loan principal. Alerus’ experienced mortgage team is ready to guide you through your journey.