Mortgage Blog
Your mortgage journey starts now!
How to Keep Your Home After Separation — Even If You Don’t Qualify Alone
April 20, 2025 | Posted by: Nicholas Pratile
Going through a separation or divorce is never easy — emotionally, mentally, or financially. And for many couples in Ontario, one of the biggest concerns is: what happens to the home?
If you’re in the middle of a breakup and worried about keeping your home, the good news is: you may not have to sell — even if you don’t qualify for a mortgage on your own.
Here’s how it works, and what you can do to stay in the home you love.
The Challenge: Qualifying Solo After Separation
When couples buy a home together, they usually qualify based on combined income. But after a separation, that dynamic shifts.
If one partner wants to keep the home and buy out the other, they need to:
- Qualify for a new mortgage on their own
- Buy out their ex’s share of the home equity
- Handle legal fees, refinance costs, and other expenses
That can feel overwhelming — especially with rising interest rates and tighter lending rules.
The Solution: Spousal Buyout Mortgage Programs
Thankfully, there’s a solution that can help: it’s called a Spousal Buyout Mortgage.
This program allows you to refinance up to 95% of your home’s value — even if you’re technically buying someone out of the property. That extra 15% (compared to a regular 80% refinance limit) can give you the breathing room to:
Pay off your ex’s share
Cover legal or separation-related debts
Stay in your home and keep life stable — especially if kids are involved
What You’ll Need:
To access this kind of mortgage, there are a few requirements:
- A finalized separation agreement (outlining asset division and property terms)
- A purchase agreement showing you're buying your ex’s share
- Proof you can afford the mortgage on your own (income, credit, etc.)
- A realistic appraised value of the home
- A lender that offers Spousal Buyout Programs (not all do — but I know who does)
You Don’t Have to Do It Alone
This is one of the most emotionally charged times in your life — and dealing with lenders, paperwork, and stress on top of it can feel like too much.
That’s where working with a mortgage broker like me comes in. I’ll guide you through the spousal buyout process, work with lenders that understand your situation, and help you come out of this with financial stability and peace of mind.
Ready to Talk?
If you’re going through a separation and want to explore your options to stay in your home, let’s connect.
Contact Mortgages with Nicholas to explore strategies tailored to your needs.
Book a Consultation: Schedule an Appointment
Email: info@mortgageswithnicholas.com
Website: mortgageswithnicholas.com
Facebook: Mortgages with Nicholas
Instagram: @mortgageswithnicholas
Let’s make your condo ownership dreams a reality!
#SpousalBuyoutMortgage #DivorceAndRealEstate #KeepYourHome #SeparationSupport #MortgageAfterDivorce #OntarioRealEstate #TorontoMortgageBroker #HomeAfterBreakup #MortgageHelpOntario #MortgagesWithNicholas