Can a person buy a home on ssdi with a good fica score?
465575
Typically income source cannot be a reason for a lenders denial of credit.\n\nGenerally this type of income requires a history of receipt, a recent award letter and a bank stmt or two to show the direct deposit.  You may also be required to show a likely hood of 2 years continuance.  All these guidelines vary from lender to lender.  I might suggest you contact a loan officer in your area that represents several lenders. This knowledgeable individual can review your entire purchasing power and find a lender that will work for you. If you are working with a Realtor he/she can also assist in directing you.\n\nRead all documents.  I cannot emphasize that enough.  You don't want any surprises when you payments coupons arrive in the mail.
23218
It depends on where you live and how much SSI you are getting. You can call your SS office and ask them.
806935
schris...the funds lent to the purchaser (you) is really predicated on the appraisal value of the home, not you. you get apx 80% of the value of the appraisal unless you have better than 700 score and than dependant upon your personal situation, you could get 100% of the appraisal.\nfunds other than the purchase money would be secondary lending or home improvement funds and you would have to qualify for that in addition. I hope this sheds some light on the situation...but in short, you can't go to the hip with the other 125k unless the home is valued at that and more.\nhappy home buying.
1157838
Not.\n\nAnd if you did the payments would kill you. Disability makes you a liability. To cover this you would have to pay extra. \n\nThere are forms where adult kids actually pay for the house also. That would ease the risk and make payments more relaxed... they would have to be living there though.
856834
The problem is that, unless she's disabled, her income is probably not going to be high enough to allow her to purchase a home.  If she and her son-to-be-exhusband owned a home, she might be able to use her share of the equity from that home to purchase a place to live, if there is enough equity, depending upon the terms of the divorce..  \n\nShe could look into low-income rentals, known as Section 8.  Unfortunately, she doesn't have young children living with her and she's not yet elderly, so she may not qualify for that either. \n\nHer best bet would be to contact the local welfare office and ask them for any assistance or leads that they can provide for low-income housing.\n\nGood luck!
1072584
I would suggest you ask them at the ssdi.
1184915
Are you trying to get a loan to purchase this house?  Do you have a large down payment? Do you have income to pay the mortgage? You do not need a job, you need the income that is usually provided by the job.\n\nIf you get retirement or disability benefits, money from investments, or income from other sources, and that is enough to pay the loan payments, you would not need to have a job.\n\nDepending on the amount of equity (money) you are putting into the deal, and the amount that you need to borrow, you may be able to get a "no qualifier" loan, where the equity in the property is enough for the bank to make the loan without any other requirements. \n\nFor example, if a property is worth $250,000 and you have $210,000 in cash to put down, the bank most likely will not care about your job situation. They are not risking much. They have a $250,000 property that they are using as collateral for a $40,000 loan. If the loan has to be foreclosed (you do not make the payments), the bank will be able to sell the property for enough to pay the loan and any and all costs.
75722
Poor credit, how poor.  A low FICO does not always mean rejection form a lender.  I work with over 150 now.  Write me an email and we can talk options if you would like a professional opinion.  \n\nYes you can buy a home it simply depends on what home and how much it will cost to acquire.\n\nI'm assisting a buyer now who has a 576 middle FICO buy a $575,000 home now.
176150
There are actually three variables that go into determining wht your interest rate will be Fico Score, Debt-to-Income Ratio and Loan-to-Value.  You can get a mortgage with any score.  Even sub 500 scores.  You might qualify for a loan now with your score but the interest rate is going to be higher.  If you are willing to pay the price I would say go for it and allow your mortgage payment history to build up your score.
621498
You know that the Social Security Administration itself does not determine eligibility...the state does. You would definitely want to pick up the phone and call the SSA before you take any yahoo answers advice.
2295
It is my understanding that SSI disability is a federal program under Social Security. Therefore there is no difference in the benefits received in different states.\n\nInstead of looking for more money, perhaps you should consider finding where it's less expensive to live on the income you have.
1070109
The first place to look is a mortgage broker. Many mortgage brokers have several programs to choose from including for people with bad credit. Also, pull a copy of all 3 credit reports. this will allow you to get a complete picture of your credit without taking a hit on your credit score. You can even take these with you to meet with the mortgage broker and then he or she will be able to provide more direction. You should know what you can afford before you go looking for a house. Plus don't be afraid to take a smaller investmetn than originally planned. Home ownership builds credit as long as payments are on time and consistent. This can lead to your dream home.
28952
yes,you may. however there is a monthly $$ limit, and you must advise Social security when you start working.  After a period of time (e.g. 6 mos), they will reevaluate your case to see if you still qualify as disabled.  Call social security to verify limits beforehand. If you go over the limit your allowed, you then owe them $2 for every  $1 over.
990102
Sure you can, as a foreigner. I can help. If you are working here and not having a SSN, you should have some tax id, do you? I work with a big direct lender/mortgage broker doing business in 48 states, and because the huge volumn of business we do, we get better rate than smaller brokers. We have over 200 loan programs to meet the needs of different situations, from good FICO score and good income and down payment, to poor FICO score and NO income (called "stated income") and NO down payment, so I will be able to find the program which best fits your needs. Contact me at xjuy@yahoo.com or 408-476-0455 and I can help you. Jessica
702041
If you have decent credit and an income, probably.
1119447
It can vary greatly depending on various personal factors.  You will need at least 5 lines of credit that are well seasoned (at least two years of on time payments and low balances with high limits available.  The trick is to have a substantial amount of credit available and not to use it all.  A home mortgage paid on time for a minimum of 12 months will boost your score as well.  Do not open a bunch of accounts in a short period of time.  Do not apply for accounts that you uncertain whether they will approve you or not.  The other factor is to have successfully paid off a few installment accounts that show as paid in full on a timely basis.  Do not apply for motgages, auto loans, etc; if you have opened accounts that are less than 5 months old.  Newly opened accounts count against your scores.  You can sign up with a credit monitoring service for around $10 per month that will notify you by email every time something changes on your credit bureau accounts, including scores.  It is also useful in protecting yourself against identity theft and acts as an excellent early warning system in the event of unusual activity.\n   Remember, pay on time, keep balances low, ask for limit increases every six months or so.  Maintain several accounts of various kinds.  Pay some off and establish a solid record of responsible borrowing.  Good luck.
114103
More than likely you will need to apply for SSI disability which is much less that Social Security Disability but is much faster to get approved on.  The good thing is once you are put on Social Security Disability they make it retro-acative back to the date you filed for it.