for example; if you were in an MVA and you lose your job and house. Can you still apply for a mortgage? And the source of income is social securties disabilty
2007-06-10 04:01:11 · 2 answers · asked by santos 1 in Business & Finance ➔ Renting & Real Estate
Yes you can, especially under those circumstances. Go with an FHA loan via a good lender like Wells Fargo or a local mortgage bank. They can help you with it. Write a good letter of explanation and include any documents to back it up. As long as you qualify for the payment using you social securtiy + 20% of it, you can buy a home. Also, once you buy the home that you apply for a tax break at the county you live in. People with diabilites get significant discounts on their taxes.
Good luck and god bless.
2007-06-10 04:08:18 · answer #1 · answered by jamesnbarnes 3 · 0⤊ 0⤋
You can apply all you want but in all honesty the chances of you getting a mortgage without 20% down are probably close to nil. Remember each time you apply your credit score goes down also. You also need to take into consideration you income/debt ratio. Sorry to burst the bubble but would not want you getting into even worse shape by unscrupulous lenders.
2007-06-10 07:33:34 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋