Can we qualify if we are currently in a divorce situation or should we wait till the divorce is done?

You will need to wait until the divorce is finalized. A divorce is considered a lawsuit and banks will want this to be finalized prior to application. Once the divorce is finalized, the lender will require the decree to have been signed by a judge. The divorce decree will be required and will detail any alimony or child support that must be paid or will be received. The payment or receipt of funds will impact the lender’s decision as to the financial worthiness of the file.