Home Buying in 21060>Question Details

Bellie252000, Renter in Glen Burnie, MD

Programs for disability homebuyers

Asked by Bellie252000, Glen Burnie, MD Thu Jan 31, 2013

I work at the Federal government and I'm deaf. It would be my first time buy a house anytime soon. I would like to buy a house in A.A or Annapolis. Im looking for programs because my salary is more than $49k.

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1 vote Thank Flag Link Fri Feb 1, 2013
Bellie252000,

There is a housing program available for individuals with disabilities. Please see link below. The best program for first time buyers is the Anne Arundel Mortgage assistant program were you can obtain up to 30k to purchase a home but with income limits. you have to qualify based on the number of persons in the family and the income.

http://www.dhcd.state.md.us/website/programs/hidp/Default.aspx

There are a multitude of first time homebuyer programs available state wide that you can possibly get qualified for and you can get up to additional funds. If you need any assistance in getting started, I can definetely get you started.

Rocsheen Holston
301-917-5721
1401 Mercantile Lane, Suite 100
Largo, Maryland 20774
Office: 240-770-3581 ext 381
1 vote Thank Flag Link Fri Feb 1, 2013
HI Rocsheen. Yes, I am aware of the MAP program, but I'm not qualified for the program because my salary is currently $51k. That's why I was sending the message to see if there are some programs for me...
Flag Fri Feb 1, 2013
Hello Bellie25200


There are several programs that might fit your criteria. What are you looking to purchase i.e. a house, town home, condo etc. There is this program as well.

Homeownership for Individuals with Disabilities is a loan targeted to borrowers or a son or daughter) with a physical or mental impairment that substantially limits a major life activity. (Dependence on drugs or alcohol is not an eligible disability.) Available statewide.
1 vote Thank Flag Link Thu Jan 31, 2013
Bellie,

Akil mentioned a great program for you. Here's a little more information for you. http://www.dhcd.state.md.us/website/programs/hidp/Default.aspx

The biggest drawback I see are the ratios are pretty low to qualify. By that I mean debt to income ratio. So take your monthly gross income and divide that by the new mortgage plus any debts listed on your credit report. Not the balance of a bill just the monthly payment. You have to keep the mortgage at 30% of your income monthly and 38% total with monthly debts listed on yor credit report. You also can't buy more than 300k in Anne Arundel. But this should definetely be your first look, there are way too many advantages not to seriously study it. Hope this helps and please let me know if you have any questions.

Thanks,
Brent Mendelson
1st Mariner Mortgage
Senior Loan Officer
nmls#111407
0 votes Thank Flag Link Thu Jan 31, 2013
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