I am currently working with a buyer who recently retired and is on SSI he qualifies for an FHA loan program, which only requires 3.5% down and his children are gifting him the entire 3.5% down, so it certainly is possible.
If you would like a list of local lender you could speak with I would be happy to give you several names and numbers. It costs nothing to get pre-qualified and generally only takes a few minutes of your time.
Cheryl J. McDonald
Fitzgerald GMAC Real Estate
Stroudsburg, PA 18360
It would seem to me that your down payment is considerable and large enough, if your income will cover the payments and you have a good credit history. You would need to speak with a Lender, and I can recommend a few local ones, if you wish. At a price of $90,000, though, most properties will need some work. I would be happy to do a seach for you. If you so wish, please contact me at : firstname.lastname@example.org.
CENTURY 21 ROY B. HULL
You asked a great question. However, you really need to talk to a lender in your area to go over the specifics of your situation. You do have regular monthly income. But, the lender will check your credit history,credit score & your outstanding debts (credit card balances, a car loan balance, etc.), among other factors used in the credit granting process.
I hope all goes well for you.