Spousal Separation Program: Finance up to 95% of home value to buy out spouse.
April 21 2015 Posted by Tracy Bennett
Family structures in Canada are changing as separation and divorce are on the rise. The mortgage industry has had to make changes in order to keep up with the realities of Canadian lives. The government policies that were implemented in 2012 meant that refinances could not exceed 80% of the house value. With this program we can get 95% financed, so your spouse may be able to buy another home from your existing equity.
Who is the program for? And what do you need?
1. A finalized legal separation agreement.
2. Legally married
3. Both parties are on title of property
4. An appraisal may be ordered because it is treated as a private sale
5. One party wants to stay in the home
6. Written offer to purchase
Spousal separation is a difficult and stressful time; this product will help make it an easier process.
Please contact Bennett Capital to get an approval.