Home Buying in Deland>Question Details

Nighthawk231…, Home Buyer in Deland, FL

Is there a chance at my age-66yrs. of buying a home on my SS retirement?

Asked by Nighthawk231945, Deland, FL Thu Apr 21, 2011

I am trying to help my daughter and granddaughter (who has disabilities) secure a home for the future. My daughter has a job, granddaughter has SSI income, and I will do better than $1.000 a month. My daughter has a car pmt and bills but I have none. What should I be looking for??

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Anna Brocco’s answer
Visit with any qualified loan officer(s), after reviewing your overall finances, credit, debt, etc., a determination on qualification can be made; if you don't yet qualify, your loan officer may suggest what needs to be done in order to qualify in the near future; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously...
0 votes Thank Flag Link Thu Apr 21, 2011
Hi Nighthawk,

You may be able to buy a modest home using the USDA program.

It's designed to help people purchase homes in rural areas with little or no money down.

Many local banks and mortgage companies are qualified to help you with this type of financing.

There is a high likelyhood you would qualify for a downpayment grant program depending on where you decide to purchase.

Hope that helps you!
1 vote Thank Flag Link Thu Apr 21, 2011
Good afternoon - your first and most important step is to speak with a loan officer at your bank or a mortgage company - I can highly reccoment David Seilkop or Frank Calbeto at Iberia Bank Mortgage in DeLand - 386-734-0737 that I have used for years and most impressed with their honesty, service and courtesy to the client. Once you have the answers then I will be happy to assist you infinding a suitable home. Hace a Great Evening!
0 votes Thank Flag Link Thu Apr 21, 2011
There is a better chance today than there has been for some time. There are homes on the market that are absolute steals but they are becoming fewer and farther between. I would suggest that the first step is to get in touch with a local lender and discuss each person's income and credit worthiness in an effort to determine what you can spend. At that point there are a number of options. One of the strongest will likely be the Neighborhood Stabilization Program which has homes available primarily for first time home buyers. The local community has homes that they have purchased, improved, and are making available. You can also search thousands of available homes at our website.
Web Reference: http://adamscameron.com
0 votes Thank Flag Link Thu Apr 21, 2011
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