my wife and i are on ss we want to know if we can rent to own we are also on section 8

Asked by cllpt86, Charlotte, NC Sat Mar 23, 2013

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Daniel Fisher, Agent, Charlotte, NC
Mon Apr 1, 2013
Good evening, Clipt:
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dave, Agent, Charlotte, NC
Sat Mar 23, 2013

Just becuase you are receiving social security as your primary source of income does not preclude you from owning a home. As long as you qualify and the payments are affordable you can own your own home...

Where I think it will be difficult is the section 8 voucher. That is not considered allowable income when you try to qualify for a mortgage and most banks will not even consider you for a mortgage as long as you are receiving it.... The genral consensus is that you need to ehlpe to comfortably afford your monthly rent how would you be able to not only afford the home but the maintenance that goes with the up keep of a house?

i do not want to sound as this is bad... But, given your circumstances as you have explained them you are going to find it difficult for soemone to rent to you with the option to buy; if they feel you will nto be bale to maintain the property inaddition ot the payments.

Dave diCecco
Coldwell Banker United
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