You might spend as much as 30% of your monthly income on your monthly mortgage payment. You likely saved for years for your downpayment on the home and have invested even more of your income in maintenance and upgrades to the property, like new windows or central air conditioning.
The longer you have on your home, the more equity you will have established in the property. If you want to divorce, you may feel strongly about protecting your interest in the home you have shared with your spouse. Especially if there is an emotional attachment to your home, you may want to stay there more than you want any other term in your divorce.
Can you ask to keep the house as part of your divorce?
You may have the option if you can afford the home
In some cases, your house might be your separate property. Did you inherit it or own it before you got married? If you can show that the house was your separate property, then you may not have to share its value with your spouse in the divorce (although there are some exceptions, especially if there have been improvements to the property or a jump in its equity since your marriage).
Otherwise, the two of you will have to treat the home like community property. Each of you has a financial interest in the home. You can potentially ask to retain the property if you have enough income and a good enough credit score to qualify for a mortgage.
You may need to refinance the property and pay your spouse a significant amount of equity. Otherwise, they may need to receive other assets from your marital estate, like a retirement account. Looking carefully at your financial circumstances can help you decide what goals are realistic for property division proceedings in your Arizona divorce.