What documents do I need to apply for a mortgage after a divorce?

Gather 2 years of tax returns, 2–3 recent pay stubs, 3 months of bank statements, government ID, the divorce decree, any parenting plan or temporary custody order, and documentation of child support or alimony received.

How does custody or a parenting plan affect mortgage qualification?

Lenders look for stability. A parenting plan or court order that shows a stable address and time sharing helps underwriting. Time sharing and temporary custody changes can affect whether a household is treated as stable for income and residence purposes, so provide written orders and consult a family law attorney if unclear.

What credit score, DTI and down payment should I aim for?

Target a credit score of 620 or higher for conventional loans; FHA accepts lower scores with larger down payments. Aim for a debt-to-income ratio below about 43% for most qualified mortgages. Down payments commonly range from 3% to 20% for conventional loans; FHA typically 3.5% and VA may offer 0% if eligible.

How should I compare lenders and loan products?

Request Loan Estimates from at least two lenders and consult a Florida-savvy mortgage broker. Compare 15- vs 30-year fixed options, FHA, and VA terms, interest rates, closing costs, required reserves, and any lender overlays affecting custody or nonstandard income.

How much in reserves should I have at closing?

Aim for about 3 to 6 months of total living expenses in reserves. Include mortgage PITI (principal, interest, taxes, insurance), child-related costs, and a basic emergency fund so underwriting shows liquidity.

Will child support count as income for underwriting?

Lenders may count child support as income if there is documentation such as a court order or proof of consistent receipt. Requirements vary by lender, so provide written proof and ask each lender how they treat recurring support.

Are there Florida-specific checks I should make?

Yes. Verify local property tax rates and whether flood insurance is required for the property. Work with a Florida-savvy broker or loan officer to identify common local overlays and insurance considerations before final approval.

What are the first three steps I should take right now?

(1) Gather court orders, income documents, and three months of bank statements. (2) Get Loan Estimates from two lenders and have a Florida-savvy broker review them. (3) Set aside at least three months of reserves and lock a rate once underwriting conditions are clear.

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