Would getting food stamps affect buying a home?

Asked by Addy, Austin, TX Sun Feb 9, 2014

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7
velafalon, Home Buyer, Cedar Park, TX
Sun Feb 9, 2014
Hi!
Consider that DHS will ask what you have in the bank, so if you have cash for a down payment that might affect whether or not you would receive food stamps. If you go ahead and buy the house firstnyou wouldn't have that down payment reserved cash in the bank (obviously) and at that point might qualify for SNAPS benefits. Hope that helps!
1 vote
gobrowns6468, Renter, Rittman, OH
Mon Jan 12, 2015
If someone is buying a house while receiving food stamps/medical, will "They" want to know How someone afforded the house, even if the outgoing bills will Still be the same?
Thanks so much!
0 votes
Don Groff, Agent, Austin, TX
Mon Mar 17, 2014
Not at all. There are a lot of factors such as your credit and can your income support the home payment along with your current obligations but being on food stamps would not in itself be a factor. It's not even something you would or need to disclose.

Hope this helps.

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Don Groff | REALTORĀ® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
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0 votes
Thank you very much!
Flag Mon Jan 12, 2015
Pamela Jones, Agent, Elgin, TX
Sat Feb 15, 2014
Since you are receiving food stamps now you are probably eligible for down payment assistance programs as well as possibly qualifying for a USDA loan with zero down. In my opinion you should contact a lender who is familiar with these programs and can do an assessment of what you could qualify to buy. I have worked with several lenders who can assist you. Contact me at homes@pjaustinproperties.com
0 votes
1-I am retired and live in N.C. and am trying to buy a house. I have food stamps and concerned I would loose them if I buy? 2- Does the value
amount of the house an issue?
Flag Mon Aug 24, 2015
Ricardo Trejo, Agent, Austin, TX
Tue Feb 11, 2014
My opinion is no, it will not affect you but I am not the expert on mortgages. On my website I have a team of experienced Mortgage lenders that will be able to process your information by phone or online. Their offices are located in Austin and the surrounding areas. Provided courtesy of Rick Trejo, Keller Williams Realty. Call or Text 512.507.8144, for information on buyer representation at no cost. Search the entire MLS for Free at http://www.TexasAustinHomeTeam.com
0 votes
Addy, Home Buyer, Austin, TX
Sun Feb 9, 2014
We are looking to buy a house where we'll pay what we pay for the apartment we rent right now. And we do qualify for food stamps. I go to school and my husband works, but we do need the extra help. Should I apply for assistance before or after buying a house?
0 votes
Lynette Brow…, Agent, Bronx, NY
Sun Feb 9, 2014
Hi Addy,

If you are getting a supplement to your income it should not affect buying a home, i.e. you are working, but just need a little extra help.
0 votes
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