4 Questions to Ask Your Lender If You’re Going Through a Divorce

During a divorce, one of the largest hang ups can be the real estate. Not only do the separating parties have to decide who is keeping the home and who is relocating, but there has to be consideration on what both parties can afford. Finding the mortgage expert to help answer divorce and mortgage questions is essential for a fluid divorce proceeding. Before choosing any given local mortgage broker company, ask these questions to ensure you’re in good hands:

Have you worked with clients who are currently going through a divorce? If so, for how long?

Rainbow Mortgage Inc. has been working with clients going through divorce since 2004. Since then, we’ve built a reputation as being the mortgage and divorce experts, while finding creative solutions to complex financial situations. We’ve worked alongside dozens of attorneys and have gained their trust while handling complicated transactions during a divorce.

Will you work with my attorney to ensure they’re up to date on my loan’s process?

Our goal is to save you time, money, legal fees, and trips to court by working with your attorney. We take the time to meet and work with your attorney to ensure that your goals are met and you’re able to get into your home whether it’s through a refinance or a purchase.

Will you read over my divorce decree to ensure I’ll be able to achieve my financial and housing goals?

Our Twin Cities mortgage experts prefer to read your divorce decree before it’s sent to the judge to be signed. This way, we can ensure the wording will allow you to obtain your goals and will not hinder your loan process. If your decree has already been signed, we can still look it over, however, it may need some adjustments which the judge will have to sign off on.

I was the homemaker while we were together, will I still be able to afford a new home?

Yes! If you have reentered the work force and are working full time, you only need to provide one full pay stub. If you’re going to be working part time, there are other conditions that apply.  Some programs even allow a letter of employment to be used in lieu of a pay stub.  Give us a call for more details on what you need to qualify for your loan.


Getting a mortgage after a divorce doesn’t have to be difficult. Contact the local mortgage advisors at Rainbow Mortgage Inc. to have all your mortgage and divorce questions answered today!