I worked for 35 years and unfortunately my health dwindled away until they suggested that I get on disability. I have a variety of problems from breathing to back operations to other ailments.etc.etc.The doctor i saw sent it through on my first visit. So I now receive SSDI every month. I went through all the paperwork with USDA to try to get a loan for a house that I could afford. The loan that they said they would give me wasn't really enough to buy a decent home that didn't need extreme repair work from the get go. Unless I know someone who is a handyman and will do all the work for free, I was afraid the ceiling was going to fall down or the floor was going to cave in at the houses I looked at for the price. So, yes, you can probably get a loan, but it depends on how much you draw on disability. The thing is, you can't receive or make more that $2,000 a month. So based on that USDA calculates what you can afford a month. House payment, bills, etc. etc. So unless you have some back-up money you can add with the loan or get another loan from somewhere else your probably going to have to be happy with a real fixer upper of a house. If you got money from an inheritance or other resources you will be fine to make things work out.... more
Do you mean buy a home directly paid for by disability benefits or are you asking if there is housing out there similar to what you are currently paying? I think I've heard of subsidized housing for those on ssd... otherwise if this is a legal question just call a lawyer who specialized in those questions. If you already found an answer we'd love to know, or please add more details..... more
There is assistance out there for low income home buyers. SONYMA (State of New York Mortgage Association) has a $10,000 down payment assistance grant. If you have no credit history, it's almost as bad as a poor credit history. Also, you may be able to get an FHA loan but you do need to have at least 3.5% of the purchase price to put down as a down payment and finance the rest. You may want to speak with a bank and also a credit counselor on building your credit.
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