Simple refinance will do the trick so long as you can qualify for the new loan. Meaning your Fico, new separated income (assuming you are stating you will be finalizing divorce and removing spouse from loan), loan to Value, Debt to income ratio, etc.Also, why FHA? Why not Conventional (which could be cheaper and should be looked at as first choice over FHA)Sorry to hear about the divorce, pray it works out for all parties involved.
More info needed,,, but the easiest way is to refinance.. but is it a requirement that you refinance? If so, then depending on your loan to value, you can refinance into your own name.. FHA, Conventional, USDA.. are your conforming loan choices,, but this is assuming you meet all loan eligibility requirements.. (DTI, LTV, credit scores, job, income etc..).. If you don't qualify on your own.. then you wont be able to get any loan.. in this scenario, you can leave the existing loan in place.. 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
you will need to apply for refinance on your own ....many lenders require the divorce is finalized in order to have the specific info regarding obligations and possible additional income .... will you receive any support from the divorce ? if so - some programs require you have a history of receiving this income ......why FHA ? avoid FHA if possible due to the fact the mortgage insurance premium is high and the monthly mortgage insurance is permanent ..use a conventional loan if possible - thanks
Just contact a loan mortgage broker in your area, and they will walk you through the process, and see if you qualify.
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