Home Loan for disabled with Social Security income?
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I am permanently disabled and my sole income is Social Security. Due to my disability I cannot work. I live in California and my monthly rent is $800. I have no debt. I've heard that many illegal aliens are getting home loans while earning minimum wage. Their monthly mortgage payments are less than my rent, how can I get a home loan?
Home Loan for disabled with Social Security income?www.hud.gov is the website for the Federal Housing Authority that can offer some information. I have a couple of other ideas, 1 is to checking with your local housing authority because in some areas assistance is available for lower income americans just for that purchase, including down payment assistance and grants. 2 is if you are a veteran or spouse oof a veteran you may be entitled to a VA loan. www.va.gov is that site.
Lastly I have put a website from the Rural Housing development that has many resources available to low and moderate income families. I also gave you an answer.com site to explain the debt-to-income ratios so you have a better idea of what your up against. And finally Fannie Mae is the provider of mortgages on the seconding market and this site is full links and resources. I hope they help. Good luck
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