Can I Keep My House After Divorce in BC?

Cynthia Dreger • July 27, 2026

This is the question I hear most often from clients going through separation, and it usually arrives with a lot of emotion attached. The house is where your kids sleep. It is the neighbourhood you know, the school they walk to, the one stable thing in a period where nothing feels stable.

So let me give you a real answer instead of a vague one.

Yes, keeping the home is possible in many cases. But whether it is possible for you depends on numbers, and the single most important thing you can do is find out what those numbers are before your separation agreement is finalized.

Why Timing Matters More Than Anything Else

I have worked with clients who agreed in their separation agreement to keep the family home, signed the paperwork, and then discovered they could not qualify for the mortgage on their own. At that point their options had narrowed dramatically and the agreement they signed no longer reflected what was financially possible.

Once a separation agreement is finalized, you are working inside its terms. Before it is finalized, you and your lawyer are negotiating, and accurate mortgage numbers give you leverage.

Knowing that you qualify for a specific amount changes what you push for. Knowing that you do not qualify changes it just as much, and in a far less painful way than finding out after the fact.

Call a mortgage broker before you sign. Not after. This is the most valuable piece of advice on this page.

What Lenders Look At When You Are Newly Single

Qualifying on your own is a different exercise than qualifying as a couple. Lenders look at:

Your income alone. Employment income, self-employment income, and in many cases child support and spousal support, provided they are documented in your agreement and expected to continue for a reasonable period.

Your debts alone. Any joint debts that remain in your name count against you, even if your agreement says your former partner is responsible for paying them. This surprises people constantly. A lender sees your name on the obligation and counts it.

The mortgage amount required. This is not just the existing balance. If you are buying out your former spouse's share of the equity, the new mortgage has to cover the existing balance plus the buyout.

Your credit. Separation is hard on credit. Missed payments during a chaotic period, joint accounts going unpaid, new credit taken on to manage the transition. All of it shows up.

The Spousal Buyout Program

Here is something many people going through divorce in BC do not know about, and it is genuinely one of the most useful tools available.

Under standard refinance rules, you can borrow up to 80% of your home's value. Under the spousal buyout program, you can access up to 95% of the home's value specifically to pay out your former partner's share of the equity.

That extra 15% is often the difference between keeping the home and selling it.

The requirements are straightforward. You need a finalized separation agreement that clearly states the buyout amount. You need an appraisal in most cases. And you need to qualify for the new mortgage on your own income. The funds must go toward the buyout and paying out joint debts specified in the agreement, not toward general spending.

I arrange these regularly for clients across Langley, Surrey, and the Fraser Valley.

What If You Do Not Qualify Right Now

Sometimes the honest answer is that you cannot qualify today. That is not always the end of the conversation.

Alternative lenders assess files more flexibly than banks and may approve where a bank will not. A family member co-signing can bridge the gap. Some clients use a short-term solution to hold the home for a defined period while their income stabilizes or their credit recovers, then refinance into conventional financing.

And sometimes the real answer is that keeping the home would leave you house-poor and stressed for years, and letting it go is the better decision. I will tell you that too if I think it is true. My job is not to sell you a mortgage. It is to help you make a decision you will still feel good about in five years.

Should You Keep It, Even If You Can?

Qualifying and thriving are different things.

Run the actual monthly picture on one income. Mortgage, property taxes, insurance, utilities, maintenance, and the repairs that are coming whether you budget for them or not. If that number leaves you with nothing, keeping the home may not be the win it feels like right now.

I walk clients through this honestly, because the goal is a fresh start that actually works, not just an approval.

Start With a Conversation

If you are separating and wondering what is possible, call me at 604-787-5136. This conversation is confidential, there is no cost, and there is no pressure.

I have spent 25 years in this industry, including time as a mortgage underwriter, and I work regularly with family lawyers and accountants across the Fraser Valley. I know how to look at your situation and tell you clearly what is realistic.

Have that conversation before you sign anything.

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CYNTHIA DREGER

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Deposit vs. Down Payment: Key Differences for Homebuyers

By Cynthia Dreger • July 24, 2026

When you’re buying a home, two terms often cause confusion: deposit and down payment . While they’re related, they serve very different purposes in the homebuying process. Here’s what you need to know. What Is a Deposit? A deposit is the money you provide when you make an offer on a property. Think of it as a show of good faith that proves you’re serious about purchasing. How it works : Typically, you provide a certified cheque or bank draft that your real estate brokerage holds in trust. If your offer is accepted, the deposit remains in trust until the deal moves forward. If negotiations fall through, the deposit is refunded. Connection to your down payment : Once the sale is finalized, your deposit becomes part of your total down payment. Why it matters : The amount is negotiable, but a larger deposit can make your offer more attractive in a competitive market. Keep in mind, however, that if you back out after conditions are removed, you risk losing your deposit. What Is a Down Payment? Your down payment is the amount you contribute toward the purchase price of your home when securing a mortgage. Minimum requirement : In Canada, the minimum down payment is 5% of the home’s purchase price. Anything less than 20% requires mortgage default insurance. Sources : Down payments can come from your savings, the sale of another property, RRSP withdrawals (through the Home Buyers’ Plan), a gift from family, or even borrowed funds. Example: How They Work Together Imagine you’re buying a $400,000 home with a 10% down payment ($40,000). When you make your offer, you provide a $10,000 deposit . Once conditions are met, that deposit is transferred to your lawyer’s trust account. At closing, you add the remaining $30,000 to complete your full down payment. The lender provides the rest—$360,000—through your mortgage. The Bottom Line Your deposit shows commitment and secures your offer, while your down payment is what makes the mortgage possible. Together, they work hand in hand to get you into your new home. 📞 If you’d like clarity on deposits, down payments, or any other part of the mortgage process, let’s connect. I’d be happy to walk you through it step by step.

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RRSP Home Buyers’ Plan Explained: A Smart Way to Buy Your First Home

By Cynthia Dreger • July 22, 2026

Saving for a down payment is one of the biggest challenges first-time buyers face. What many don’t realize is that the Canadian government offers a program designed to make it easier—the Home Buyers’ Plan (HBP) . This program allows you to withdraw money from your RRSP to help purchase your first home, without immediate tax consequences. Here’s how it works: Who Qualifies? To be eligible, you generally need to be a first-time home buyer. In practical terms, this means you must not have owned a home in the past four years, nor lived in a property owned by your spouse or partner during that time. There are also special allowances if you’re living with a disability or helping a relative with a disability. In these cases, you can use the HBP even if you’ve owned a home more recently. How Much Can You Withdraw? Under the program, you can access up to $60,000 from your RRSP as an individual. Couples can combine their withdrawals for a total of $120,000 . These funds must have been in your RRSP for at least 90 days before you take them out. Paying It Back The HBP isn’t “free money”—it’s an interest-free loan from your own retirement savings. You’ll have 15 years to repay the full amount back into your RRSP, starting in the second year after withdrawal. Each year, the CRA will send you an HBP Statement of Account outlining how much needs to be repaid. If you don’t make your repayment in a given year, that amount will be added to your taxable income. Why It’s a Smart Strategy The HBP can give first-time buyers a powerful boost toward homeownership. It helps you put together a larger down payment, which can reduce your mortgage amount and monthly payments. Just remember: it’s important to balance the short-term benefit of homeownership with the long-term impact on your retirement savings. Next Steps Thinking about using the Home Buyers’ Plan? Let’s sit down and review whether it’s the right move for you. Together, we can create a strategy that gets you into your first home while keeping your future financial goals on track. 📞 Reach out anytime—it would be a pleasure to guide you through the process.