Home Buying in Riverside>Question Details

Violeta Hall, Home Buyer in Riverside County, CA

Can my father in law buy a home with his disability checks hes been on it for 20 years? Thank you.

Asked by Violeta Hall, Riverside County, CA Sat Jun 9, 2012

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6
Based upon what you stated, without knowing all the details I would say, absolutely. There are programs available that your agent and lender can help you with.

If you're not working with a Realtor, I suggest you get one right away. With interest rates the lowest ever and prices on the climb, NOW is the time to buy! The FIRST and foremost step in purchasing a home is to get with a Realtor. Check with friends and family to see if they can refer someone to you or research sites, such as this one to find a good professional Realtor. Your SECOND step is to get pre-qualified for a loan. AFTER you find a Realtor, he or she will have you meet with the lender that he or she uses regularly. This is important. Please let me know if I can help or if you have any more questions.

Good luck!

Ray Wright
Keller Williams Realty
951-354-1303
1 vote Thank Flag Link Sat Jun 9, 2012
Hi, Violeta,
The City and County programs are relatively easy to navigate when you use LOCAL Realtors and lenders. There is a bit more paperwork involved, but your Realtor and lender should handle most of that for you. The time frame can be up to 2 weeks longer to allow for the additional approvals required.

I hope this helps.

Larry Utesch
Riverside Realtor Regent Certified
1 vote Thank Flag Link Sat Jun 9, 2012
Violeta, Absolutely! And, usually the disability income can be "grossed up" by 25% (if it is tax exempt). The Riverside County down payment assist program may also be an option. It will allow up to 75K on a silent second (no payment required). Lenders and agents must be certified by Riverside County to originate these loans. The process is quite cumbersome; however, well worth the effort.

I have taken rthe certification courses and would be happy to answer any specific questions. Best of luck!!
1 vote Thank Flag Link Sat Jun 9, 2012
He may if his checks from disability are enough to cover the mortgage, if hi credit score is good and he does not have alot of debt. The first step is meeting with a local and trusted loan officer who can prequailify him at no cost.
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Sat Jun 9, 2012
Yes. In the City of Riverside we are fortunate to still have assistance programs available which he would probably qualify for. Be sure he contacts a real estate agent who is familiar with these programs. We know the programs and also the participating lenders.

Good Luck!

Rosemary and Larry
1 vote Thank Flag Link Sat Jun 9, 2012
Permanent disability is generally acceptable to use for income to qualify for a loan. So the quick answer to your questions would be "yes".

-John
1 vote Thank Flag Link Sat Jun 9, 2012
yes it is. Thank you John
Flag Sat Jun 9, 2012
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