Home Buying in Alameda>Question Details

Pactone, Renter in Alameda, CA

is it possible to buy a house with social security income as me and my sister both collect it and tired of renting want to own our own house.?

Asked by Pactone, Alameda, CA Wed Aug 17, 2011

she has been renting for about 15 years never late only problem we have no down payment. we can combine both incomes and we do not know how to start. we need help! we live in california.

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Claudia Muller’s answer
Yes! You can!
In fact, we will not only use your social security income to qualify, but will add an additional 20% on as income (on paper)!
Great idea!!

Call me or email me and I can give you the details.
0 votes Thank Flag Link Sun Jul 8, 2012
Don't be intiminated. A lot of folks have purchased property with just Social Security Income. For qualification purposes SSI is increased 125%. Find a local realtor that you feel good about. He/she can also refer you to a mortgage professional.

Happy funding, Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Wed Aug 17, 2011
Yes, if you qualify you can purchase; therefore do visit with any loan officer, after reviewing your overall financial information a determination can be made, then go from there.
0 votes Thank Flag Link Wed Aug 17, 2011
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