Can I Keep the House After Divorce? Mortgage Considerations in Alberta

Short answer: You can keep the house if you qualify for a mortgage large enough to pay off the current one and fund your ex’s share of the equity, on your own income and credit, under the stress test. Documented support you receive can count as income. Support you pay counts as a debt. Beyond qualifying, make sure the payment is comfortable on one income.

This is a big, emotional decision. It’s okay not to have it figured out yet.

Step 1: Separate the Legal Question From the Mortgage Question

Legal (lawyer or mediator): how equity is divided, whether other assets offset it, and what your agreement says about the house.

Mortgage (broker): whether you qualify on your own, and how big a mortgage you need to keep the home and pay out your ex.

Step 2: Can You Qualify Alone?

Lenders consider your income (salary, commissions, self employment, documented support received), debts (loans, cards, car payments, support paid), credit and the mortgage size. We tell you what you’d likely qualify for and whether it’s enough.

Step 3: Is a Refinance Needed?

Usually yes: pay out the existing mortgage and set up a new one in your name that covers the old balance plus the buyout. We look at value, balance, available equity, penalties and the new payment, and show whether keeping the home is comfortable, tight but doable, or not realistic.

Step 4: How Support Affects It

Support received may count as income if documented, consistent and expected to continue. Support paid reduces your borrowing power.

Step 5: Is It Affordable Long Term?

Ask yourself whether the payment feels sustainable on one income, with child costs, upcoming changes in childcare or work, and maintenance. Sometimes the healthiest choice is a more manageable home.

Step 6: If You Can’t Qualify Right Now

• Sell and start fresh
• Add a co-signer or co-borrower
• Choose a more affordable next home
• Build a plan to clean up debt and rebuild credit, then buy later

Step 7: Talk to a Broker Early

You don’t have to wait for the divorce to be final. Early numbers inform the settlement and avoid a lender saying no after the agreement is signed.

How We Help

We listen first, review your mortgage and home value, estimate equity, run qualification with your income, debts and support, and map scenarios. Book a confidential call.

This article is general information, not personal financial advice. Rates, rules and programs change. Talk to a licensed mortgage broker about your situation. Lacroix Mortgage Group is licensed and powered by Mortgage Connection Inc.