Home Buying in 27540>Question Details

Vivian200014, Home Buyer in 27540

how can a person on social security disability apply for a home?

Asked by Vivian200014, 27540 Fri Jan 21, 2011

how to qualify for a first time home and on social security disability.

Help the community by answering this question:


Nathan Wolf’s answer

Social Security Disability payments are guaranteed income! Banks love this type of payments. It is easily verified and guaranteed. Contact Tony Ruff at his website: http://www.tonyruff.com -- he helped a client of mine.

My client a year ago was disabled. We looked at only single story homes and condos-- where the lawn maintenance was included. But then we found an awesome townhome with a master bedroom on the main level, and a one car garage and patio. She now has two more bedrooms upstairs for guests, but doesn't have to go upstairs otherwise. She was able to get a great loan, applied for a tax break, an lives only a few miles from her sister, with easy access to the bus line and close to her doctors.

And the best part is this: She's paying less than she was paying in rent!

If you liked this post, GIVE ME A THUMBS UP!
Nate Wolf was recently named a FIVE STAR REALTOR by Charlotte Magazine. He is a top producing real estate sales broker, representing both buyers and sellers. He is a member of the National Association of Realtors, The Charlotte Regional Realtors Association and the Carolina Multiple Listing Services. He is licensed in multiple states and serves all areas of Metro Charlotte from Lake Norman to Lake Wylie and Uptown / Center City to SouthPark and Ballantyne.

charlotte mls realtor home listings
Web Reference: http://www.natewolf.com
7 votes Thank Flag Link Thu Apr 14, 2011
I am on ssi in ga and am moving to santa cruz, ca. Can I Qualify for a home loan ? I collect 710 monthly from ga. Can you give me some guidance?
Flag Tue Sep 10, 2013
I just applied for a USDA loan and the lender said my wifes social security disbaility could not be counted. My wife has a permanent disabily and been receiving payment for nearly 3 years. Is this discrimination?
Flag Thu Jan 17, 2013
To qualify for a home loan, certain rules will apply regarding your social security disability income. If the social security disability income is long-term, with no indication that the benefit will be terminated, the income can be used for qualification. If the disability is short-term (less than 3 years) then generally the income cannot be used to qualify for a home loan.
If you have children that you also receive social security disability income because you or your spouse are disabled, that income can be used as long as you can provide evidence that the disability income will be received for the first 3 years of the loan.
Because social secuirty disability income is non-taxable, the lender will gross up the amount by 25%. For example, if the income is $1,000 per month, then the income used to qualify is $1,250.00 per month.
Finally, most states have programs for disabled persons that would allow you to purchase a home within the respective agencies guidelines. You should check with your city, local realtors and lenders to find out what programs might be availible in your area.
4 votes Thank Flag Link Fri Jan 21, 2011
I am not in Holly Springs NC, I am in californis
Flag Sat Feb 8, 2014
I have been on SSI since I was 22 & it is permanent , & I need to know who to get a loan to by a mobil home at the beach the snow & cold is killing me & I just need help or knowledsge to know how to go about it
Flag Sat Feb 8, 2014
If you are applying for social security disability or have been approved for SSD and currently receive benefits, the issue of home ownership is a non-issue.

In fact, the issue of assets at all is a complete non-issue. SSD is considered a federal insurance entitlement. In other words, you pay into the system over several year via work activity (and this is the case whether you have your fica contributions deducted from a paycheck or you are self-employed and have to "settle up" with the IRS annually or quarterly) and if you own one home or twenty homes it makes no difference.

SSI disability, however, is different. SSI is need-based and SSI disability benefits are available to adults and children who are not insured and, thus, not covered for social security disability insurance benefits. For SSI, assets are absolutely a consideration and, in fact, the cap on assets for this program is two thousand dollars. Meaning: you cannot have more than two thousand dollars in countable assets and retain eligiblity for SSI.

Obviously, any home will be worth more than two thousand dollars as an asset. However, countable assets for SSI disability eligibility does not include the residence you live in. So, to answer the question we began, "can you buy a house or home if you receive Social security disability or SSI?", we can state the following----

1. For social security disability, it doesn't matter and assets are not a consideration.

2. For SSI, assets are a consideration in determining a person's eligibility, but will not be an issue as far as one's residence is concerned. Real property will, however, be a consideration for any real property that is owned aside from one's residence. And in such cases, the fair market value of excess real property will be used to count against the two thousand dollar asset limit for SSI disability.
Web Reference: http://www.321property.com
3 votes Thank Flag Link Fri Jan 21, 2011
who i talk to about a first time home buyer i am on social security
2 votes Thank Flag Link Sat Feb 4, 2012
Hi my name is maurice and im on ssi and i have 3 Kids and à wife tired of living in apartments And want à house my Kids are get big Plz help
1 vote Thank Flag Link Wed Aug 28, 2013
Can person buying a house using ssdi benefits able to work part time ?
1 vote Thank Flag Link Wed Aug 21, 2013
yes you can work but you cant make over a certain amount. 1000. a month but if you make over about 700 they really start looking at your ssi case to see it you really need there help.
Flag Tue Oct 22, 2013
I am on disablity, at this time in my life,I live in a trailer, that have holes in the floor, I have placed boards, on holds, and just tried to make the best of it. But it's getting worse, I've needed to move for yrs. But I can live here for as low as$100.00 per month, My dad has some land, and b/4 I had a trailer there, my own, but a tree fail on it, no insurance so I had to take what I could get. It's just me, now, all of my children are gone growen, I don't want to be a burden to them, Not when I'm perfectly able to take care of myself, Yes I'm disable, but not dead, My disabilites, are physically,backsurgery,athritis,thinningofthe bones,Also I've been hospitlize for depression twice, At times get extremely depressed, But Dr. tell me that I have to move from invirotment, but when you don't have money that's extremely hard to do. So ifanyone has any advise I thank you, GodBless
1 vote Thank Flag Link Wed Aug 7, 2013
Your situation is special and if I can, I will help with the knowledge I have. If you still wish help, email me at jfkrelics@gmail.com
Flag Sat Dec 7, 2013
I am on SSI can I apply for a home buying Grant ?
1 vote Thank Flag Link Thu May 30, 2013
i am on ssi and I am looking fore aptment
1 vote Thank Flag Link Fri May 10, 2013
my name is ryan hirsch and im on ssdi and im looking for an apartment i can afford with just $895 a month in ssdi? if u can help me text me on my cell 951-313-8965 please
1 vote Thank Flag Link Wed Feb 27, 2013
I've had troubles with my disability payment (got denied from the application but later on got accepted but then they stopped it for no reason) I want to share this website that I found online. It helped me alot so I promised myself I'm gonna share it to everyone. It's free so don't worry.

1 vote Thank Flag Link Sun Feb 24, 2013
im on ssi and have bad credit and want to own a home do i have a chance to purchase a home
1 vote Thank Flag Link Tue Jan 22, 2013
It really depends on what is on your credit report and and how much you make on your SS. What typically happens is the lender will suggest things you can do or recommend you to someone who can help you with your credit issues. I have worked with clients that had bad credit and were able to purchase within a year. It really depends on what your credit looks like. You will never know if you can purchase until you talk with a lender.
Flag Sun Jun 9, 2013
congratulations on wanting to be a homeowner! Call a lender and get started.
1 vote Thank Flag Link Wed Jan 2, 2013
Is it fair for the taxpayers to pay for a home on ssi ? A person that is a registered Sex offender ?
1 vote Thank Flag Link Wed Jan 2, 2013
enough with the tax payers bull, ask the government where your taxes are going.
Flag Mon Mar 25, 2013
YES you can own a home with that income!! the gov't has a PHA program, so check it out (link below)

You can also go to flatlistingmls (which leaves out the realtors, so that ppl can sell thier homes for less b/c they aren't paying the 6%+ to realtor -- just make sure to get an inspection!done!) and search there for 'owner financing' or 'rent to own' and do without all the 'qualifying' info listed below. fwiw i'm not a realtor or broker, but i sold my last home using Flat Fee MLS :) RE attys deal with flat listing mls a lot and really all you need to buy/sell a house is a RE atty, not a realtor. realtors are becoming like typewriters,(ie obsolete)

same goes for Craig's List, have several friends who've bought/sold places on there or eBay. just make sure you have an atty draw up the docs!
1 vote Thank Flag Link Sun Sep 18, 2011

Qualifying for a loan to buy a home, car, appliances or any other type of credit is based on your income, obligations and credit score. Social security disability income is income. If it is permanent and verifiable it will be considered for purposes of qualifying you to buy a house. There is much more involved. Speak to an experienced local lender for details.

Good luck.
1 vote Thank Flag Link Fri Jan 21, 2011
Your total monthly income would have to cover your living expenses and the amount of your mortgage. You may want to look into alternative methods of home ownership, like community land trusts or Habitat for Humanity. Talk to a good mortgage broker or your bank to get some guidance in your local area. Many cities, such as Durham, NC, have homebuyer programs with very little money down. Good luck!
Web Reference: http://www.shelertoday.com
1 vote Thank Flag Link Fri Jan 21, 2011
it counts as income just like any other type. So talk to your lender and get qualified. Good Luck!
1 vote Thank Flag Link Fri Jan 21, 2011
I am looking in the fort myers florida lee county for myself i am on monthly disablity check off 721.00 per month and 189.00 in food stamps and get medicaid for my monthly primary dr appts can you help me look for homes
0 votes Thank Flag Link Thu Jul 10, 2014
in order to qualify for a home for a disabled person, he needs to go through the application process
0 votes Thank Flag Link Mon Feb 17, 2014
help looking to buy a house in weber or davis county in Utah and want to know if there is any help I m on ssi and need to know if there is any help out there
0 votes Thank Flag Link Thu Nov 21, 2013
I want to buy a home in weber or davis county in Utah and want to know if there is any way to get a home loan on disability with no credit or bad credit
0 votes Thank Flag Link Thu Nov 21, 2013
I m not in n c
Flag Thu Nov 21, 2013
i want buy home with my and step father in law social security disability with programs can we go to help us buy home for are family and we life in AZ and with stray here and so with can do to buy first time home
0 votes Thank Flag Link Thu Oct 17, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer