I would say that you might be able to get a loan with a down payment and proof of continued income. I am sure people who receive a retirement check, veteran benefits, disability or social security are all forms of continued income. Feel free to discuss your personal situation with a lender or your can contact me and I can give you some recommendations.
Mortgage Broker Or Lender, South Jordan, UT
Sat Jun 25, 2011
You could get a co-signer that has enough qualifying employment & income for their debts as well as the new home mortgage you'd obtain together.
Generally the less preferred route is that you could opt for a private/hard money loan as long as you have enough of a down payment, as those types of lenders are primarily concerned with if they had to take back the home from you could they pay off their loan.
Lenders like good credit, but they need to know you'll be able to keep it. If you don't have a job but have a reasonable stream of income or substantial assets, you may get a loan. If you have no income, you won't qualify for a conventional loan.