Unfortunately the day may come that you find yourself going through a separation or divorce. Of course this can be a scary and unknown time for you as your financial situation will change. One of the largest financial obligations to consider for people going through this period is their mortgage and home. It's important that before you start negotiating with your former spouse that you know what you qualify for. If you are wanting to stay in the matrimonial home, you need to know how much equity is owing to your spouse. Normally you would subtract what's owing on the home from the current value (proof of which can be obtained through a real estate appraiser and/or a letter of opinion from a Realtor) and divide it by 2. Of course there are times that one of you may have more or less than the other if there's debt outside the mortgage that one of you will be taking responsibility for. Or there may be other reasons that one of you may receive more equity than the other. However, in the majority of cases you will split the equity in half. If you aren't staying in the home, is your spouse buying you out or are you just going to sell the home and split the proceeds? Then of course you need to know what you qualify for on your own income. If you are receiving or paying support it will affect the amount you qualify for. In all cases, you need to know where you stand before you list the home, offer to buy out your spouse, or even start looking at  new home. It's a tough time, but knowing what you qualify can make is a little easier on you.