MORTGAGES BY CHRISTINE MACPHERSON

Need mortgage planning during your divorce?

Sorting out your mortgage during divorce can be overwhelming. It doesn't have to be. Let me show you how.

LET'S TALK

It's simple. No matter where you are in the divorce process, If you have a mortgage and want to know all the options available to you, we should talk!

  STEP ONE

Start the conversation. 

The best place to start is to connect with me directly. The mortgage process is personal, and it can be daunting. My commitment to you is that I'll listen to all your needs, assess your financial situation, and provide you with a plan to move forward. 
 STEP ONE

Choose the best option. 

Once we’ve had a look at your financial situation, we’ll consider a variety of mortgage options, I’ll outline what documents are necessary to qualify for a mortgage, negotiate with the lenders on your behalf, and arrange the mortgage that best suits your needs.

 STEP ONE

Sit back and relax. 

Once we’ve arranged the mortgage product that best suits your needs, you’re not alone. I’m your mortgage professional for life. If you’ve got questions in the years to come, I’m always available to make sure that your mortgage is working for you, and not the other way around!

Mortgages by Christine MacPherson

I understand the financial issues that come with divorce are overwhelming. I am trained to help you sort through the muddy waters so you can move forward with your life.

Today's housing market is more diverse and complex than ever before. My role as your Licensed Mortgage Agent is to guide, educate and help you understand the mortgage market.


My Business Diploma from NAIT and experience in lending, administration and accounting within the private and public sector makes me uniquely qualified to give you personalized service and unbiased advice in finding the best mortgage solution at no cost to you!


Recently, I moved back to Sherwood Park, Alberta, after living in Okotoks for 18 years. I am familiar with both southern and northern Alberta as well as other areas of Canada. 


Let me help you with whatever you need - a new home purchase, refinancing for renovations or debt consolidations, mortgage renewals, reverse mortgages, New-to-Canada programs, vacation and rental properties.


Please reach out today!

LET'S TALK

Frequently Asked Questions

If you happen to be going through, or considering a divorce or separation, did you know there are mortgage products designed specifically to allow you to refinance your property in order to buyout your ex-spouse?
 
For most couples, their property is their largest asset. In the case of a separation, it’s possible to structure a new mortgage to allow you to purchase the property from your ex-spouse for up to 95% of the property’s value. 
 
Alternatively, if your ex-spouse wants to keep the property, they can buy you out using the same program. Either way, we’ll work with you to make sure that getting a mortgage while going through a divorce is as smooth as possible. 

Here are some common questions people have about divorce mortgage financing. 

  • Is a finalized separation agreement required?

    Yes. In order to qualify, you will be required to provide the lender with a copy of the signed separation agreement. The details of asset allocation must be clearly outlined.

  • Can the net proceeds be used for home renovations or to pay out loans?

    No. The net proceeds can only be used to buy out the other owner’s share of equity and/or to pay off joint debt as explicitly agreed upon in the finalized separation agreement.

  • What is the maximum amount that can be withdrawn?

    The maximum equity that can be withdrawn is the amount agreed upon in the separation agreement to buy out the other owner’s share of property and/or to retire joint debts (if any), not to exceed 95% loan to value (LTV).

  • What is the maximum permitted LTV?

    Max. LTV is the lesser of 95% or Remaining Mortgage + Equity required to buy out other owner and/or pay off joint debt (which, in some cases, can total < 95% LTV). The property must be the primary owner-occupied residence.

  • Do all parties have to be on title?

    Yes. All parties to the transaction have to be current registered owners on title. Solicitor is required to do a search of title to confirm.

  • Do the parties have to be a married or common-law couple?

    No. The current owners can be friends or siblings. This is considered on exception with insurer approval. In this case, as there won’t be a separation agreement, there is a standard clause that can be included in the purchase contract that outlines the buyout.

  • Is a full appraisal required?

    Yes. When considering this type of a mortgage, it is similar to a private sale and a physical appraisal of the property is mandatory. 

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