Home Buying in 11420>Question Details

Jamjackliz, Home Buyer in 11420

I receive over 3000 in SSD/ Workers compensation. Would I be able to buy a home. I am raising 2 foster children. Thanks

Asked by Jamjackliz, 11420 Mon Jan 30, 2012

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Anna M Brocco’s answer
If you qualify for a mortgage, you can buy; therefore visit with any licensed loan officer, after reviewing your overall financial information, a determination on qualification can be made; then go from there.
2 votes Thank Flag Link Mon Jan 30, 2012
Possibly.... Normally it would depend on the ages of your foster children and how much income you receive for raising them. A Licensed MLO should be able to anser that question for you.
1 vote Thank Flag Link Mon Jan 30, 2012
Yes You Can. Check out http://www.MyFreeHouse.Tk for more information on what is available for you.
Web Reference: http://www.MyFreeHouse.Tk
1 vote Thank Flag Link Mon Jan 30, 2012
I would say it depends on the time period you're going to be receiving that amount. Workers comp is a great source of income. That being said, it can tend to drop out over time. It all depends how long the agreement goes for. It's important to be able to work again if that agreement runs out.
0 votes Thank Flag Link Thu Nov 20, 2014
We offer loans at low interest rate to Low FICO Scorers..
Contact kev.rich12@outlook.com for more on this program
0 votes Thank Flag Link Fri Oct 31, 2014
Hi Jamjackliz,

It's possible but there are couple of major concerns.

1) Workers comp generally can be counted as income because it's "temporary".

2) The same thing can apply to the SSD unless you've been found to be permanently disabled and the SSD will continue for at least 3 years.

On the other hand, the money from your foster care can be counted as long as it will continue.

The only way to find out what your options are is to apply with a lender (like me) for a pre-approval.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
NMLS# 787231
0 votes Thank Flag Link Fri Oct 31, 2014
There are a few more questions that need to answered like down payment, saving ect.
0 votes Thank Flag Link Mon Jan 30, 2012
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