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Marriage Separation Mortgage



905.537.8815


Marriage separation mortgage - cmhc spousal buy out to 95% 

Marriage separation is without a doubt one of the most stressful family struggles. It usually involves a division of assets including the family home. These are difficult hurdles to get through before couples can get on with their lives.

About spousal buy out home loans.

What will happen to my house, how to qualify for a mortgage, is likely a big question each separating spouse is considering.

But, there is a marriage separation mortgage up to 95% of home value to help families resolve this problem.


spousal buyout cmhc mortgage

In recent years, Canadian Government made changes to CMHC insured home loans to assist separating spouses with refinancing home mortgage. The spousal separation mortgage allows the separating spouse staying in the house to refinance the home up to 95% and buy out the spouse leaving the family home. It is insured by CMHC spousal buy out mortgage.


Marriage-separation-mortgage-CMHC-spousal-buy-out-to-95%.jpgMarriage separation mortgage is a spousal buyout CMHC insured mortgage up to 95% of value.

Photo contributed by Deborah Barfknecht, Family Lawyer

How to qualify for a mortgage to buy out my spouse

Credit reports and scores and income are the main consideration in a spousal buyout mortgage.

You will need an acceptable credit score, over 680 Fico score. This is a high ratio insured mortgage. Insurers will look for at least two trade lines over $1,500 credit limit that have been opened for a minimum of two years. And, no late payments in the past two years. 

Income needed to qualify for the spousal separation mortgage up to 95%.

Although you are refinancing home mortgage, technically you are buying your home all over again, this time on your own financial strength.

You'll need sufficient income to qualify for your new mortgage amount. This means, your income and expenses are evaluated to meet the lender's debt service ratio requirements based on the existing Stress Test. If your income is salaried and you are past the three month probationary period, then your current gross income can be used to qualify.

Is your income hourly or you have overtime or bonus income? Earnings on your two most recent years CRA Notice of Assessment will be averaged to come up with the amount that will be used to qualify.


Low credit score mortgage as a spousal separation mortgage

If you have credit problems, you won't qualify for a marriage separation mortgage at 95% of value. You'll need a low credit score mortgage.

There are options to help you too. For example, you may qualify for alternative mortgage financing up to 80% of home value.

Each situation is unique and needs it's own mortgage strategy. But, there are some low credit score mortgage options.

If you need self employed home loans, alternative mortgage financing can help you. Sometimes the use of private mortgage lenders makes sense as private lenders can be more creative and flexible.

As a home mortgage company we love helping clients rebuild financially. You'll get the best mortgage strategy that fits your personal circumstances -- and, expert and confidential home mortgage help. I promise.

Marie Copeland, FSU, Mortgage Broker.


To top of marriage separation mortgage


Can you afford to miss out on a best chance to rebuild financially? No one can. 

Let's get you the right marriage separation mortgage strategy.


Call 905.537.8815, or

Banks and "A" Lenders pay us for your service. EXCEPT bad credit mortgages, some self employed mortgages, private mortgages or multi-use and commercial loans - broker fees are payable by clients. 

*Lenders change their products and interest rates without notice.


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