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Joe H.
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Home loan while on disability?

Joe H.
Posted Jul 14 2018, 23:53

Hello! Does anyone here know if it’s “possible” to obtain a mortgage loan to purchase an owner occupy single family home if the only source of income is social security disability, and they have poor credit??? 

Credit scores are 506, 504, and 487. 

20% cash downpayment for purchase

FHA loan is showing paid as agreed and closed in 11/2015.

$22K in closed unsecured debt accounts from early 2014 on credit reports. 

Monthly income is Title ll social security benefits only ($2900)

Any advice anyone here is willing to give would be greatly appreciated.

Thank you! 

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