Spousal maintenance is a payment from one ex-partner to the other to help meet reasonable living expenses after separation. It is based on one party's need and the other's capacity to pay. From a lending perspective, spousal maintenance you pay reduces your borrowing capacity (it is treated as a financial commitment). Spousal maintenance you receive may be counted as income by some lenders - but not all, and typically only if it is court-ordered and has a defined duration.
Lender treatment of spousal maintenance varies significantly. Some count it as income for 80% of its value. Others ignore it entirely. Some require it to be court-ordered with a minimum remaining term. The difference between lenders can mean $50,000+ in borrowing capacity. This is where a broker who understands separation finance makes a real difference.
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