FHA World - Divorce Mortgage Options
Divorce Mortgage when you want to keep your home after a divorce. The person that wants to keep the property will need to apply for a mortgage. The person not appling
for the mortgage will need to sign the new deed removing their name from ownership and transfering ownership to the other person. You will need to qualify for a new home loan on your own. You
can refinance before the divorce is final as long the the other person is willing to sigm off at the closing.
You may not need equity in your property! There are programs available that do not require equity to refinance. You will have to qualify using your income and be able to show that you can afford the new payments.
FHA World - Divorce Refinance
What documentation will I need?
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www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.
FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%
FHA requires a minimum credit score of 500 to buy a home or refinance
Chapter 7 Bankruptcy at least two years must have elapsed since the discharge date
Foreclosure must have been resolved for at least 3 years
Government loan: Seasoning is determined by the date the claim was paid
Loans other than Government: Seasoning is determined by the date of sale the lender sold the property
FHA guidelines requires three year past from the date of sale of the property
What documentation will I need?
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