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Get Free AdviceSeparation is hard enough without losing the home you've built equity in. A spousal buyout mortgage in Toronto lets one partner refinance the property, pay out the other's share, and stay put. At Equity Rich we approve these deals on the equity in your home, not just your pay stubs, so a single income or a self-employed year doesn't end with a forced sale. We lend directly across the GTA and tap partner lenders when that gets you a better fit. We focus entirely on equity-based lending, offering up to 70-75% loan-to-value (LTV) in both first and second mortgage positions.
A spousal buyout mortgage is a refinance that lets one spouse take full ownership of the matrimonial home after a separation or divorce. You replace the existing mortgage with a larger one, and the extra funds go to your former partner to settle their share of the equity. The title transfers into your name alone, the joint mortgage is discharged, and you stay in the house. Because Toronto property values are high, even a modest percentage of equity can be enough to fund the buyout after a separation or divorce. It’s a solution for anyone who wants to keep the home, provide stability for children, or avoid selling a valuable property during an already difficult time.
In Canada, spousal buyout mortgages are commonly used during divorce proceedings and often cover not only the balance of the existing mortgage but also the payout to the departing spouse, legal costs, and other related expenses. It’s a comprehensive financial solution that helps you move forward with confidence.
Homeowners in Ontario going through a separation or divorce who want to retain ownership of the family home. If you have sufficient equity in your property, EquityRich can help you buy out your ex-spouse’s share without the typical barriers imposed by traditional lenders.
First, we take a close look at your home's current market value to see how much equity you've built up. From there, we determine your loan eligibility based entirely on that equity, not your income, credit score, or age.
Our equity-based lending model lets us offer higher loan-to-value ratios than most traditional lenders, up to 75%. That means you can cover the remaining mortgage, your spouse's share, and even some legal costs all in one go.
Whether you're self-employed, retired, or just getting back on your feet, we won't ask for pay stubs, credit reports, or proof of income. We focus only on your property's value, making this option far more accessible than a standard bank mortgage.
Need to refinance completely or just add a second mortgage to access funds? No problem. We'll build a financing solution around your current mortgage setup so it fits your needs, not the other way around.
Our team works directly with your lawyer to handle the title transfer and buyout paperwork, making sure everything is done properly and on time. We aim to make this part as stress-free and smooth as possible.
We understand how time-sensitive divorce settlements can be. That's why we move fast; many clients get approval and funding within just a few business days, so you're not left waiting when it matters most.
If you want to keep your home after a separation, the first step is a signed separation agreement. This is the document lenders rely on, and it document outlines how your assets, like the family home, will be divided. Once that’s done, you’ll need to get a professional appraisal to find out your home’s current market value. From there, you can figure out what your spouse’s share of the equity is and how much you’ll need to pay them out.
That’s where a spousal buyout mortgage comes in. It allows you to refinance your current mortgage and borrow the extra funds needed to buy out your ex-spouse’s share, all without the rigid rules and delays that come with traditional banks. At EquityRich, we make the process as straightforward as possible. Our equity-based approach is fast, flexible, and built around your needs, so you can become the sole owner of your home and start this next chapter with confidence.
Before any lender will fund a spousal buyout, they need to see a separation agreement signed by both parties. It states who is keeping the home, the agreed value of the property, and the exact amount owed to the departing spouse. Without it, the deal is treated as a standard refinance.
Most separations also involve a current appraisal so everyone agrees on the home’s value. Once the agreement and appraisal line up, we calculate how much you need to pull out: the remaining mortgage balance plus your ex-partner’s share of the equity. That total becomes your new loan amount, and we structure the refinance to clear the existing joint mortgage on closing day.
Going from two incomes to one is the hardest part of qualifying after a separation. Banks run the new mortgage against a single salary and often decline files that are perfectly affordable in practice. We approach it differently. As an equity-based lender, we weigh the equity in your home first, which opens the door for self-employed owners, retirees, and anyone whose income is tough to document on paper.
If a bank-style approval gives you a better rate, we can act as a broker and place your buyout with a partner lender. If it can’t, we fund it directly. Either way you deal with one team. You can read more about pulling cash from your property through our home equity loan options, and for flexible, equity-first approvals see our private mortgage solutions.
Homeowners are often equity-rich and cash-tight, which is exactly the situation a buyout solves. Detached and semi-detached values across the city, plus condos in the core, usually carry enough equity that one spouse can refinance and stay without draining savings. We work across Toronto and the surrounding GTA, including Durham, York, Peel, Halton, and Hamilton.
Family law and timelines move fast during a separation, so we keep approvals quick and the paperwork tied to your separation agreement. The goal is simple: get the title into your name and the joint mortgage closed before the next deadline forces a sale.
No credit check. No income verification. Funds in as little as 48 hours.
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No credit check. No income verification. Our team is ready to help you unlock the value of your home.