Buying A Home
Mrs.JK
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Selling home after a year...
Husband and I are getting a divorce. We have a VA loan in both our names. I am the only source of income. We have a few options.
First one is for me to keep the house and refinance (since I'm not the veteren) in my name. Only problem is I will have to come up with a down payment. Second option is for him to keep it and refinance. Obviously he would have to get a job. Third is to sell it. We might be able to make even if we price it higher than what we bought it for and fix it up a bit. But realtor fees $6000 and we would have to pay back a grant which would be approximately $6,400 but would be less each month we owned the home.
I don't know what to do. The divorce costs money as it is. What would you do?
First one is for me to keep the house and refinance (since I'm not the veteren) in my name. Only problem is I will have to come up with a down payment. Second option is for him to keep it and refinance. Obviously he would have to get a job. Third is to sell it. We might be able to make even if we price it higher than what we bought it for and fix it up a bit. But realtor fees $6000 and we would have to pay back a grant which would be approximately $6,400 but would be less each month we owned the home.
I don't know what to do. The divorce costs money as it is. What would you do?
Re: Selling home after a year...
For me the first question is, do you want to stay in that house (emotionally, mentally, etc.).
How much of a DP would you owe if you did a refi in your name?
This bolded is very important if you want to try to rent the house out. Mortgages under a VA loan generally have an owner occupancy requirement included in the covenants. You might be able to request a waiver to the requirement for hardship circumstances but you'd have to check with your lender to be sure it's even an option.Wishing you the best thru this difficult process.