Divorce doesn’t always mean you have to sell your house. Using a mortgage product designed specifically for this purpose, one spouse can buy out the other, without the need to sell.

This process involves refinancing the existing mortgage so that one spouse can assume full ownership by using a new loan to pay off the original mortgage and provide the other spouse with their share of the equity. To qualify, the buying spouse must demonstrate creditworthiness and the ability to afford the mortgage independently. This option offers several benefits, including maintaining stability, especially for children, avoiding the costs associated with selling the home, and preserving emotional attachment to the property. It’s essential to consult with legal and financial professionals to ensure the buyout agreement is fair, legally sound, and aligned with long-term financial goals.