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Mari,  in Austin, TX

buying a home with SSI benefits

Asked by Mari, Austin, TX Tue Dec 13, 2011

my son gets $445.00 a month in SSI benefits. he is 21 years old. is there any way he could buy a home that the entire family could live in? like a duplex? my husband and i have income to contribute to a morgage payment but our credit scores are low...

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It would be pretty tough to get a home for that amount. Even though you are contributing, the bank will not take that into consideration unless you are also on the note and if you credit is low, they may not. You son cannot be discriminated against due to the SSI, but the amount is questionable.

I would suggest you check out a few lenders that specialize in credit repair and see what you can do with your credit scores. If you can bring those up, you may be able to pursue a home in both names. Hope that helped.
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