When we tie the knot with our soulmate, we assume it’s going to be forever. Unfortunately, not all marriages have fairytale endings. In fact, a very significant amount of marriages in Canada end in divorce. The most recent data suggests the average marriage lasts 14 years. With knowing the statistics, we felt it was important to help those going through this hardship. Generally in a separation, housing is the biggest problem when it comes to severing assets, so we put together a spousal buyout program to help give you an option to stay in your home.
A unique alternative that very few even know exists.
Introducing our “Spousal Buyout Program”
The spousal buyout program is a one-time opportunity. The program can simply help payout your spouse, as well as provide an opportunity to pay off other debts outside of the separation. Our spousal buyout program has been developed to help provide you with that fresh start you've been looking for.
With our lending partners and mortgage insurance providers working together with us. We can provide up to 95 percent of the value of your home. Our program is backed by all three of Canada’s mortgage insurance providers, Canada Mortgage and Housing Corporation (CMHC), Genworth Financial and Canada Guaranty.
Now, you can payout your ex-spouse and continue living in the home you love.
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Even with a helpful loan-to-value ratio, some people still can’t afford to take on the home on their own. The program also allows people to bring on a cosigner, often a new partner or family member.
So you want to buyout your spouse, so what's next?
If you would like to buy out your spouse we do require some documents in order to complete the mortgage approval. A list of documents that would be required for review are:
- Signed separation agreement
- Employment Letter
- Most recent paystub
- List of debts you wish to payout along with the spousal buyout
We will guide you through each step to help make this process as stress-free as possible.
At the end of the day, divorce is unfortunate. This program allows you to keep your home and your kids can stay where they’ve grown up.
If you do find yourself in a divorce and you’re not sure what to do about your home, contact a mortgage broker before making any decisions. They can help you.
