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What Kind of Loan Do I Need to Pay Off Husband in Divorce? – Joann

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Divorce and house paid off what loan do i need to pay half back to husband.

Hi, I am getting a divorce but I will keep the house. The house is paid off but I will have to pay spouse half of value of house. What loan would be best to get. The house should stand good for loan also. Looking to borrow around 40,000.


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  • Hello Friend,

    The best opyion for you would be to re-fi your house if it’s paid. Cheaper interest rate.

  • With decent credit you should be good to go on a refi.  Rates are extra low now, and like msullivan said, go for a 10 or 15 year loan – generally only $80 – $200 per month more, but paid in half the time.

    Good luck.

  • Joann,

    I would suggest refinancing the home for the amount you owe your ex. That will assure that you have a clean title (the lender would otherwise insist on your ex’s signature). That also provides you with tax benefits and you are likely to get a 4% APR which is rather inexpensive financing. It would be wise to to get a 10 or 15 year mortgage if you can afford it. The shorter the mortgage period the less the interest cost.

    I am assuming from your question that you can borrow and have good credit and a reasonable income. You will have to qualify for any type of loan.

    Good Luck!

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