Can I apply for a mortgage during divorce procedures?

Asked by Susan Fodchuk, Montrose, MI Fri Dec 30, 2011

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Anna M Brocco, Agent, Williston Park, NY
Fri Dec 30, 2011
Consult with your attorney before considering any purchase, he/she can best advise as to your timing...
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Roland Vinya…, Agent, Sprakers, NY
Fri Dec 30, 2011
Good answer, Ron. It is best if you know before applying just how the divorce will be finalized. If it is a contentious relationship you have, I would be more than cautious about applying. If you are just waiting for the paperwork to finish and the dust to settle, I would be far less concerned.
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Elliott R. O…, Agent, McLean, VA
Fri Dec 30, 2011
You can apply but it's best to get it over with even though Michigan is not a community property state. With FHA financing for example, your spouse's debt has to be included in your debt calculation even if they are not on the application. That could possibly make your debt ratio to high which may prevent an approval.

Sit down with a licensed loan officer that can take the time to explain your options to you. Please take a minute to read about the Pre-Approval process here:…
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Roswell Moore…, Mortgage Broker Or Lender, Scottsdale, AZ
Fri Dec 30, 2011
Hi Susan,

The short answer is YES, you can apply for a mortgage during your divorce proceedings... here in AZ anyway, I am not sure about MI. This is a question to ask your attorney, since there may be consequences you want to avoid.

Applying now & then closing after the divorce is finalized would be something to look at. If that is not an option, depending upon the type of mortgage you are applying for, the lender may require your soon to be ex-husband's credit report pulled and his minimum monthly payment obligations added to your minimum monthly liability column to determine your debt-to-income ratio, based solely on your income, alone. A "Conventional" does not have this requirement.

Please feel free to contact me if you have any further questions, I'd be glad to help you.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, USDA, Jumbo, Conventional, plus, we allow Escrow Hold Backs!
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