Mortgage Centre


Tracy Irwin

- Mortgage Broker

Mortgage Strategies - Life Transitions

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mortgage Strategies

Divorce - to move or not to move …..

Divorced? Separated? Single? - watch video

Lifestyle Transition MortgagesDivorced, Separated, Single? You Can Own the Home of Your Dreams

Are you frustrated with the complicated process of divorce – not to mention the emotional turmoil? The division of the assets can send you packing ...literally! Find out what your options are when it comes to refinancing the matrimonial home or financing a new home so that you are back in the driver’s seat.

No one enjoys the emotional and complicated process of divorce, especially where the division of assets is concerned.

News Fact:
Did you know that in 2003, there were 70,828 divorces in Canada and that after 30 years, 37% of marriages will end in divorce?  According to Statistics Canada Report  – 2003

Refinancing the existing mortgage can be an option when one party wants to buy out the other and keep the home – or move.

STEP 1.  What is the value of your home?

A appraisal is a professional opinion or consultative valuation report on the market value of your property supported by the presentation of relevant data analysis.

By utilizing the services of an appraiser, you will be able to determine the market value of your home.

STEP 2.  Calculate the equity in your home.

To determine the equity in your home ~

  • Calculate the market value of your home (from your appraisal report)
  • Subtract the outstanding mortgage amount
  • Subtract any early payment penalties (if your mortgage is not due for renewal)
  • Subtract realtor fees (if you are selling your home)
  • The balance is the equity in your home. 

STEP 3.   Determine your credit score.

Click here to find out “What your credit score means”.  You can receive a free credit report by contacting:

This free report will not give you your credit score, but it will tell you the outstanding liabilities that are listed in your name.

To obtain your credit score, contact Tracy to run the report free of charge or you can order one through Equifax or Transunion for a fee.

STEP 4.  Acquire pre-approval for your refinanced mortgage.

Click here or contact me to find out how you can get pre-approved for a mortgage. 

Some things to consider:

  • Will you be making child support payments or receiving them?
  • What is your employment status and how are you compensated, i.e. salaried, commissioned, self-employed, hourly, full-time or part-time?
  • What will your down payment be?  (use the calculation of equity in your home – Step 2.)
  • What will your monthly budget be?

There are a variety of lenders available and by using an Accredited  Mortgage Professional (AMP), the right lender will be found for your specific needs.  Contact Tracy Irwin, AMP to help find the right lender for you.

STEP 5.  And last, but not least.

Once you have been pre-approved for a mortgage, you can determine if your desire is to stay in the existing home or look for new housing solutions.

Either way – knowing how much you can afford, puts you back in charge and lets you sleep at night!

Call for personalized complimentary mortgage consultation
For your personalized complimentary consultation, please contact Tracy Irwin at toll-free number 1-866-797-7616 or contact her online at

Financing your mortgage loan needs in Stoney Creek, Burlington, Waterdown, Oakville, Hamilton, Ancaster and Dundas, Ontario.

R.D.M. Financial Consultants Ltd. Brokerage Licence # 10716 Each Mortgage Centre office is independently owned and operated