No, you can't.

Paul Howard

Hello Francis,
I am a Realtor in Collingswood who happened upon Real Estate as a career because of the Duplex I bought 10 years ago, before I was in sales.. Yes, you can use rental and future disabilities monies to purchase a Duplex, "IF".. that "IF" depends on your answers to the questions in these previous responses, all of them and more! Ms. Madley makes a good point. There might be a way you qualify for a Duplex, you have your eye on, I would be happy to help you explore your options. My office is located downtown in Collingswood on Haddon Avenue, across from the Pop Shop, feel free to stop by or give a call.

Francis,

Alot of factors are involved in getting qualified for a mortgage. The amount of the down payment, your credit worthiness, and other factors play a large role in whether you can get an approval or not. I'm very familiar with your area of interest. In addition I can let you know what lender guidelines would call for in your particular situation. Feel free to call or send a pm. I'd be happy to assist you.

I recently helped a buyer who was able to qualify for a purchase with permanent disability income.

The approval or disapproval for you may depend upon the amount you recieve from each source. If the diability income is 10% and the rental income is 90%, I think that many lenders will consider it too risky. A lender will also look for excellent credit scores in this type of situation.

Best,
Deborah Madey - Broker
Peninsula Realty Group - New Jersey

I have to agree with a previous answer of...maybe. You need to seek detailed advice from a mortgage professional. There may be other programs in New Jersey that you may qualify for. I don't have your finanical details available to be able to give you a firmer answer.
If you are looking to buy the duplex with the intention of renting one side and living in the other, this will make a difference on how the lender will view you. If on the other hand you are planning on renting both sides, this will be more difficult...money is extremely tight for investors.
You can either write me or call me and I can recommend a few mortgage professionals that you could contact.

Francis,

In today's lending environment, you will have a lot of difficulty trying to accompish this. Are you planning on occupying one of the units? Will it make a profit each month with rents? Do you have a down payment? Each of these factors will affect whether you can get this financed.

Hope this helps,

Tni LeBlanc, JD, MA, e-PRO
http://www.MintProp.com
http://www.SantaMariaRealEstateBlog.com

Maybe. Is the future disabilities money a lump sum cash settlement or will it be a monthly income for the rest of your life? That will make a difference. Also, some lenders may be willing to include the rental income if you can provide them with proof that you have a renter who is able and willing to pay the amount of rent you want. Having a good relationship with your local banker or credit union people may also improve your chances. Your credit score and history will also factor into the decision. Talk to a mortgage consultant in your area for more specifics.