Low interest loans for disabled?  |
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Ok folks, here is my question. I am disabled and I'm considering moving back to my home state in the midwest. I've even found a home online that I like just a few blocks from my Dad. Dad is willing to help with moving expenses, but he can't afford much more than that. I think I can afford the house payment on my disability income, but with such limited income and some past credit issues I don't know how I can get financing. Do any of you know where to turn for answers or suggestions on how to get a loan to buy a home? This won't be my first home, so I don't think I can get an FHA loan for new home buyers. Any suggestions or ideas people?
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1. shooie (3500) | 4 months ago | Could try lendingtree.com. My sister and her husband went to them when they couldn't get one anywhere else. then in a year or so try to get it refinanced through the bank.
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2. Opal26 (3838) | 4 months ago | Hey Tess. Been awhile. I'm not really sure, but there has to be some associations that are attached to disability that can give you some information. I'm going to do some checking. I can't promise anything because I know that it differs from state to state. I am in the middle of filling out my papers to apply for the first time for disability for myself. I have been on temporary public assistance and my time is running out. I have been hooked up with a firm that represents social services in NY to help me with my application and filing. I know that there has to be some place that you could get information from that deals with people on disability wanting to purchase a house. If you want to pm me I would like to ask you some more questions so that I might be able to see if I could get more information for you. Let me know.
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TessWhite (1526) | 4 months ago | Thanks, message sent.:)
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3. leenie50 (685) | 4 months ago | Hi Tess, Here in Fl. there is an organization called ACORN that is helping people hold onto their homes. With the way things are going, there should be someone that can help you find the information you need. Being disabled, try a local legal assistance program for the poor and needy. At least they might be able to direct you to the right place. Call the local Social Security office. I think that's how I got our local listings. Good luck. There is help out there so don't give up. Go online, and make calls. Being diabled and having my husband out of work for over a year now, I spend my days researching and making calls. I was surprised to find the help I was looking for. leenie
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TessWhite (1526) | 4 months ago | Good ideas leenie. I hadn't thought of calling the SS office. I need to call them anyway with some questions on forms they sent me to complete. I swear its always something. Thanks.
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4. ellie333 (5740) | 4 months ago | Hi TessWhite, Here in the UK if you were on disability of not working they would give a grant which didn't need to be paid back of up to a £1000 or a budgeting loan of up to a £1000 that would be interest free. If there is some sort of Citizens Advice centre in USA I suggest to go there and find out what sort of financial help you may be entitled too before getting any type of loan and they may pay your removal cost too. Good luck with the move. Ellie:D
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TessWhite (1526) | 4 months ago | Thanks for the response Ellie. I did some research late last night and came up with a couple of ideas and websites. Still have to read and research more but its not like I don't have the time. LOL
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5. CatsandDogs (3391) | 4 months ago | I can't say one way or the other but I can tell you to do some research by going to different banks and see if they have the answer. Then go to a mortgage company and see if they have the answer as well if they all are told the same. It's a thought and hopefully you'll get the information that you're seeking. Good Luck!!
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TessWhite (1526) | 4 months ago | Thanks. Its my understanding that there are incentives when you are moving from another state also. I have a banker friend, she might know the answers to some of these things.
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6. freefogging (275) | 4 months ago | TessWhite, have you thought of using a co-signer? We just co-signed on a home in ohio for our daughter-in-law and she was approved with a loan that's interest rate is 6.5% and the downpayment and closing costs are included in the loan. She also has some credit issues. She was denied the loan until we cosigned for her,then she was approved within 48 hours. I would try that if I were you. With the housing market like it is today,the banks are being more leniant with the loans. Good luck!!
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TessWhite (1526) | 4 months ago | I've thought of it. But the only person I could ask would be Dad. And even though his credit is perfect he is in his mid 70s and the bank might not go for that for a 30 year loan. My credit isn't perfect, but I have one credit card I've been in dispute with for almost a year now, and they finally turned me over to a collection agency. So now I'm fighting with them. LOL
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