The Homeowner's Guide to Mortgage Professionals
When deciding whether to keep or sell the marital home, your ability to qualify for financing is often the deciding factor.
This guide explains the difference between a traditional mortgage lender and a Certified Divorce Lending Professional (CDLP), and why getting pre-approved before negotiating is critical.
Who Is A Divorce Mortgage Professional?
While any licensed loan officer can originate a mortgage, a Certified Divorce Lending Professional (CDLP) specializes in the unique underwriting guidelines and income requirements associated with divorce settlements, alimony, child support, and equity buyouts.
Core Responsibilities:
- Evaluating your ability to refinance or execute an equity buyout.
- Advising on how settlement income (support) can be used for qualification.
- Identifying potential roadblocks in debt-to-income ratios before agreements are signed.
- Helping you understand your purchasing power for a new home.
When They Should Be Involved
Before agreeing to a buyout
Never assume you can refinance without formal pre-approval.
Before finalizing support payments
How support is structured impacts mortgage qualification.
When planning to buy a new home
To understand exactly what you can afford after the divorce.
When They Should NOT Be Involved
Providing legal advice
Lenders cannot advise you on legal strategy or settlement terms.
Determining property value
While they order appraisals, they do not establish market value for listing.
Mediating disputes
Lenders deal in financial facts and underwriting guidelines, not conflict resolution.
Important Questions To Ask
Questions You Should Ask Them
- Are you a Certified Divorce Lending Professional (CDLP)?
- How long must I receive support before it counts as income?
- Can we structure the buyout as a rate-and-term refinance?
- What happens to my credit if my spouse misses a payment?
- How does my settlement draft impact my ability to qualify?
Questions They Should Ask You
- Do you have a draft of your marital settlement agreement?
- Who will be responsible for the current mortgage debt?
- Are you currently receiving or paying child/spousal support?
- What is the estimated value of the home and the current loan balance?
- Have there been any recent late payments on joint accounts?
THE LOCKHART METHOD™
Every important property decision follows the same proven process.
Understand Your Situation
Evaluate Every Option
Build Your Strategy
Coordinate The Right Professionals
Move Forward With Confidence
How Steve Coordinates With Your Lender
Steve Lockhart works alongside your mortgage professional to ensure the property valuation, equity estimates, and timeline align with your financing strategy.
If keeping the home is your goal, Steve helps you gather the necessary property data so the lender can give you an accurate assessment of your buyout options before you commit.
Related Decisions
Explore other common property questions.
Should I Sell Before Or After Divorce?
Understand the timing implications.
Can I Keep The House?
Evaluate long-term affordability.
How Is Home Equity Divided?
Learn how equity is calculated.
How Is My Home Valued?
Understand valuation methods.
Can I Buy Another Home Before Divorce?
Explore financing during transition.
Need To Know If You Qualify?
We can connect you with a Certified Divorce Lending Professional to review your options.