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Refinancing after Divorce.

I finalized my divorce 30 days ago and with the rates going down I finally need to refinance my home. My current loan was closed January 2010, and my rate is 5.03. I want to change the rate because it's high...I know the rate for 30-year-fix is now 4.65. The loan is 80/20 and I owe $629k on the first mortgage and I owe $299k on second. My home value is appx. $1,310k right now. I have about $380k in cash. I had no interaction when my x-wife purchased the home in 2010. I need to understand what my options are. Your professional recommendations/suggestions, I would greatly appreciate. by ywhail590 from Woodland Hills, California. Aug 14th 2018 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,455 contributions

With the divorce finalized, the you can absolutely refinance now.. however, you will need to meet all eligibility requirements, including minimum credit scores, income and debt to income ratios.. It's difficult to advise you without looking at your complete loan profile.. but the short answer is "Yes".. you can refinance.. I'd be glad to assist, so feel free to reach out to me.. I can evaluate your scenario and advise you in 30 minutes or less.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Aug 14th 2018
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Dan Paladin (dpaladin)
#1 ranked lender in California - 525 contributions

In short you can refinance. More info would be needed regarding terms. Equity position looks good as well as assets. Must meet high balance or jumbo guidelines depending on which loan structure would best fit your needs. Feel free to contact me locally at 562.254.5616 or you can schedule a call as well: https://bit.ly/2nGcOOqRegards

Aug 16th 2018
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