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Buying a home while in the middle of a divorce takes a bit more preparation and understanding compared to other types of home purchases. The following information should help people that are in the midst of a divorce and wishing to buy another home.
If your situation doesn’t fit the standard expected by lenders, you could find it more difficult to qualify for the home loan you want. But there could be other options that will make financing your home purchase easier.
Before you consider buying a condo, it is important to find out if the condo has been approved by Fannie Mae or Freddie Mac, if you are going to use a conventional loan. If you are using a government-insured loan from the FHA, VA, or USDA, the condo project has to be approved by their requirements.
