Rent vs Buy in 77070>Question Details

Patty Lopez, Renter in Phoenix, AZ

Would someone on a fixed income, like disability be able to buy a home?

Asked by Patty Lopez, Phoenix, AZ Wed Jun 20, 2012

I have had alot of adversity in my life and hopefully get myself back on track and be able to purchase a home. My total monthly income is $3,000 and with the high rental & lease payments you feel like "why am I doing this?" and try to get myself in home again

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4
You would deb best to contact a mortgage broker to get the answers you need. If there is housing in the area you live that would allow for an income level of $3000.00 a month then they will be able to help you get approved then your house hunt will be on... where there is a will there is a way! Everyone should be able to own their own home... that what this country is all about!
Good luck to you!
0 votes Thank Flag Link Fri Jun 27, 2014
Hi Patty,
I would like to ask whether its possible for a person on a fixed income to rent an apartment.
0 votes Thank Flag Link Wed Dec 26, 2012
Hello Patty, Qualifying for a mortgage loan depends on your credit, income and funds for down payment & closing costs. Based on your income of $3,000 you would qualify, even if this income is disability.

It's better to contact a mortgage professional in your area that can give you more information.

It's possible to own your home instead of renting! Best of luck to you!
0 votes Thank Flag Link Fri Jul 13, 2012
Hi Pattty, I am not fully aware of all the mortgage options that might be offered for someone in your situation, so the best option is to call on a few mortgage companies and explain your situation and see if there is a way out. Here in Houston, TX, we have first time homebuyer incentives and those will low income and a reasonably good credit has options.
Wish you all the best and keep trying. I am sure something will work out if not now, then a bit later.
Persis
713-294-7747
persis.realtor@gmail.com
0 votes Thank Flag Link Wed Jun 20, 2012
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