![]() ![]() Refinance the mortgage to buy out their portion of the home □ Connect with local realtors, get expert advice Clever can help you find a great local realtor with experience helping divorced couples - and it offers additional benefits, like built-in savings on realtor fees when you sell. To find a realtor with the right type of experience, we recommend trying a free agent matching service like Clever Real Estate. An expert realtor can help you explore all your options. If you're considering a house buyout in a divorce, it's a good idea to talk to an experienced local real estate agent before making a decision. Consult a divorce attorney to help you sort this out. Your ex-spouse's equity might depend on what state you live in and whether you owned the house before you got married. ![]() When you buy out their equity, you'll pay your ex for their portion ![]() If you bought the house together, you'll typically split the equity equally. If you and your ex-spouse owned the home together, you'll likely both have equity in the home. What are my options with our house after a divorce?Īfter a divorce, you have a few options when it comes to splitting up your home. This is called a house buyout, and though it's common, it's just one of several options. One option is to buy out the remaining amount on the mortgage from your ex-spouse. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.Divorce buyout calculator | How to calculate a home buyout | Your options after divorce | House buyout | Refinancing | Splitting proceedsĪfter a divorce, deciding how to deal with a shared home can be tricky, especially if you're no longer on good terms with your ex-spouse. Different amounts and terms will result in different comparison rates. WARNING: This comparison rate applies only to the example or examples given. ^ Comparison rates are based on a loan of $150,000 over a term of 25 years. * Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, the product may not include all the features relevant to you, and not all products are available in all states and territories. Your broker will advise whether they are a credit representative of Mortgage Choice or Smartline. Mortgage Choice and Smartline are wholly-owned subsidiaries of REA. REA can connect you with our referral partner ubank, part of National Australia Bank Limited ABN 12 004 044 937 (AFSL and Australian Credit Licence 230686), or introduce you to a mortgage broker accredited with either Mortgage Choice Pty Ltd ACN 009 161 979 (Mortgage Choice) (Australian Credit Licence 382869) or Smartline Operations Pty Ltd ACN 086 467 727 (Smartline) (Australian Credit Licence 385325), who can talk to you about home loans from a range of lenders. This website has been prepared without taking into account your objectives, financial situation or needs. The information provided on this website is for general education purposes only and is not intended to constitute specialist or personal advice. Please refer to our Credit Guide for information relating to our activities. Pty Ltd ACN 080 195 535 (REA) is a credit representative (484305) of Smartline Operations Pty Ltd ACN 086 467 727 (Australian Credit Licence 385325). ![]()
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