Short answer
Buying after divorce is usually more straightforward than buying during it, provided the marital home has been refinanced, assumed or sold, support terms are documented, and assets have been distributed and can be sourced.
Clear the old file first
The single biggest variable is what happened to the marital home. An open joint mortgage may still be counted against you unless documentation requirements to exclude it are met.
The second is documentation of support — received or paid. The third is sourcing the assets you received in the distribution.
A realistic sequence
Most clients move faster when they follow this order:
- Review the executed settlement agreement
- Confirm the treatment of the prior mortgage
- Document support and distributed assets
- Review credit and address anything correctable
- Establish the qualified purchase range, then start looking
Frequently asked
How long after a divorce can I buy?
There is no universal waiting period. It depends on documentation, qualification and the specific loan program.
About the author
Abdel Khawatmi, CDLP®
Certified Divorce Lending Professional and founder of Got Mortgages, a division of Paramount Residential Mortgage Group, Inc. Abdel works with divorcing homeowners, attorneys, mediators, financial professionals and real estate professionals across New Jersey. NMLS #1712023. He is not an attorney, tax advisor or financial advisor, and this article is educational only.