Recently divorced..selling current home..splitting the money..Now I need a new home..Help
I currently for 10 years live in $800,000 home with a mortgage. Divorcing husband makes $600,000..wants house to be sold and split...probably make only $200,000 each. I will be getting $150,000 alimony plus child support. I work pt making $3000 yr. Will I be able to get a mortgage on my own. I live in nj. by divorceenj from Newark, New Jersey. Dec 14th 2009
Jack Myers (jmyers)
#11 ranked lender in New Jersey - 2 contributions
Once the court has ordered the alimony and child support, then in can be used to qualify for a mortgage. Please call to work out numbers.Jack Myers 973-292-6500 x108
Jason Diperstein (jdiperstein)
#12 ranked lender in New Jersey - 3 contributions
Hello Divorcee,You must first have proof that you will be receiving both alimony and child support for the next three years before those income sources can be used. Keep in mind that income is not the sole determinant for mortgage approval, make sure you have a handle on your credit scores and your outgoing debt payments. Too much debt or low credit scores may kill your chances of getting a mortgage even with sufficient income.Best of luck,Jason DipersteinE Mortgage Management800-793-9633 x156jdiperstein@emmloans.com
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