🚨 VIRGINIA JUST QUIETLY CHANGED THE RULES FOR DIVORCING HOMEOWNERS.
And if you have a 3% or 4% mortgage, this could be HUGE.
One of the toughest questions during a divorce is often:
Who keeps the house?
Until now, that could mean refinancing the mortgage—and potentially trading a historically low interest rate for a much higher one.
😳 That can add hundreds, even thousands, to a monthly payment.
But a new Virginia law, HB 304, took effect July 1, 2026.
For qualifying conventional home mortgage loans, the mortgage must include an assumption provision connected to a divorce or annulment. If the spouse keeping the home qualifies for the loan, they may have a path to assume the existing mortgage rather than refinance it.
🔥 Think about that. You may not automatically have to give up that low mortgage rate just because you’re getting divorced.
Lenders are also required to disclose the assumption provision within three days of receiving a completed loan application.
This won’t apply to every loan or every situation, so talk with your lender and divorce attorney.
But if you—or someone you know—is facing a divorce and trying to figure out what happens to the house…
SHARE THIS WITH THEM.
It could be one of the most important financial conversations they have.
— John Womeldorf
Mr. Williamsburg | Liz Moore & Associates
📱 757-254-8136
✉️ john@mrwilliamsburg.com
🌐 mrwilliamsburg.com
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