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    Looking for a home loan to buy a house

    I am wondering if there are any home loan programs for disabled. Like a low income home loan program. You never know what is bullshit when you are reading some of these offers. I am wondering if anyone knows about a legit program. I work and am not on any kind of disability. I make ok money but I am still low income. Any suggestions?

    #2
    Habitat for Humanity will make one of their houses accessible if you qualify for their program, and if they are doing a project where you live. It is not free, but they arrange low payments for those who qualify.

    (KLD)
    The SCI-Nurses are advanced practice nurses specializing in SCI/D care. They are available to answer questions, provide education, and make suggestions which you should always discuss with your physician/primary health care provider before implementing. Medical diagnosis is not provided, nor do the SCI-Nurses provide nursing or medical care through their responses on the CareCure forums.

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      #3
      That was going to be my only suggestion as well .. do you have family because I believe that's how you qualify.
      Roses are red. Tacos are enjoyable. Don't blame immigrants, because you're unemployable.

      T-11 Flaccid Paraplegic due to TM July 1985 @ age 12

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        #4
        I looked it up and I don't qualify. You have to be in a bad living situation or unable to afford your rent/mortgage. Neither apply to my situation

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          #5
          It doesn't necessarily have to be "accessible". I can make those changes later. What I really want is to just buy a home. And yes, I have a son who is 17 and will be in college year after next. He will probably be living at home though.

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            #6
            Talk to a bank & figure out what you qualify for. Do you have any $ for a down payment?

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              #7
              I was about to suggest Habitat for Humanity, too.

              Rock solid credit, a down payment of roughly 20% (minimum) and a stable work history with minimal debt may lead to approval by a bank. Keep your expenses bare bones and sock away all the money you can for your dream house. Loans have become more difficult for the average person to secure given the economy of recent years.

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                #8
                I don't see any help if you plan on staying in your current city. They just stopped a home buyer program. http://www.suisun.com/ I'd suggest, as LaMem did to start socking money away. Also get a current copy from all 3 credit score companies of yours and make sure it is correct. DO NOT start cancelling credit cards you are current on or have no balance. Having them represents a responsible past. Get an idea of costs of the type of home you want (condo, townhome, single family) and general area. Then go talk to a bank representative where you have an account. Ask what you would currently qualify for with them and with others and any ideas they have to improve your chances of successfully buying a home and also what range you now qualify for and, again, how to up your price range short of a rich uncle dying. If your main aim is to break into home ownership and you have the nerves and can break a lease with maybe 60 days notice you might get something nice in a short sale/foreclosure if your credit is good. Do pay a very good home inspector before closing if you go this route as most are sold 'as is'. A bank rep will normally be happy to help if you come in with credit scores and current bank statements and ideas on your needs versus wants. I'd also find out what closing costs run in your area/state. You should be able to Google up this kind of information. The minute you talk to a realtor you will acquire a shadow that can be rather pesky to get rid of.
                Courage doesn't always roar. Sometimes courage is the quiet voice at the end of the day saying, "I will try again tomorrow."

                Disclaimer: Answers, suggestions, and/or comments do not constitute medical advice expressed or implied and are based solely on my experiences as a SCI patient. Please consult your attending physician for medical advise and treatment. In the event of a medical emergency please call 911.

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                  #9
                  Look into Homepath.com. They offer three percent down on foreclosed on houses in varying condition. I saw one on an acre in Hawaii for about 79 thousand. Some of the houses in cities go for as little as 10 thousand bucks. Many of them need work, but if you are going to do modifications anyway, what the heck?

                  I looked up suisun ca on the homepath network, and they have decent places starting at just 134 thousand. Can't beat it for that area.
                  Anything worth doing, is worth doing to excess

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                    #10
                    Check with your city housing department. Many cities, especially with a glut of vacent or foreclosed homes offer programs to encourage neighborhood reinvestment. There will be requirements, most likely you'll have to sit through a class, pledge to live in the house for a period of years (3 to 5 standard) and that you'll maintain or improve the property. Programs vary from city to city, some are low/no interest loans, some are grants if you meet criteria. Your very best bet is to contact a realtor, who based on your situation will send you to the appropriate lender for financing pre-qual. I use a couple of source, if you look GREAT on paper, a standard bank, if there is wonkiness (like disability-induced changes in income) I have a private banker (local) who has more lee-way especially in underwriting.
                    My blog: Living Life at Butt Level

                    Ignite Phoenix #9 - Wheelchairs and Wisdom: Living Life at Butt Level

                    "I will not die an unlived life. I will not live in fear of falling or catching fire. I choose to inhabit my days, to allow my living to open me, to make me less afraid, more accessible, to loosen my heart until it becomes a wing, a torch, a promise. I choose to risk my significance; to live so that which comes to me as seed goes to the next as blossom and that which comes to me as blossom, goes on as fruit."

                    Dawna Markova Author of Open Mind.

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                      #11
                      Guess I should clarify my stance on realtors. Sorry Je, didn't mean to have your occupation seen as vultures. I was going off of many first time buyers experiences because they didn't know anything about the process with many being the first in their families' to be home owners. Many people do not know the laws about conflict of interests in their state or if they have both buyer and sellers agents as seperate entities who can only represent one or can switch to a buyers agent if the situation requires it.
                      I still think getting your financial information together and straight is a good way to start whether you then go directly to interviewing real estate agents or on to a bank/lender.
                      Jen, I totally forgot about neighborhood reinvestment programs. This one I should know since I now live about an hour from my hometown where foreclosures hit not during the housing bust but the day the GM plant that had been there for just under 100 years, closed its doors. They have a reinvestment program for those who will live in the house for 5 years minimum. The city was well ahead on rentals including several buildings downtown on the river that are income controlled for the elderly. Many cities do offer home owner bennies for those who stay and rebuild tax bases. My bad.
                      Courage doesn't always roar. Sometimes courage is the quiet voice at the end of the day saying, "I will try again tomorrow."

                      Disclaimer: Answers, suggestions, and/or comments do not constitute medical advice expressed or implied and are based solely on my experiences as a SCI patient. Please consult your attending physician for medical advise and treatment. In the event of a medical emergency please call 911.

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                        #12
                        No offense taken Sue. Ever.

                        The reason I suggest starting with a Realtor is they tend to be on top of programs that offer incentives to purchase and generally know where to go to get things done.

                        One can certainly do all the groundwork themselves. I tend to be lazy.

                        As with any business dealing, trust but verify. Ask friends who have had successful transactions for a referal. A lot of people use friends or family instead of a true professional Realtor. Know your rights and responsibilities and read up on the rules.
                        My blog: Living Life at Butt Level

                        Ignite Phoenix #9 - Wheelchairs and Wisdom: Living Life at Butt Level

                        "I will not die an unlived life. I will not live in fear of falling or catching fire. I choose to inhabit my days, to allow my living to open me, to make me less afraid, more accessible, to loosen my heart until it becomes a wing, a torch, a promise. I choose to risk my significance; to live so that which comes to me as seed goes to the next as blossom and that which comes to me as blossom, goes on as fruit."

                        Dawna Markova Author of Open Mind.

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                          #13
                          I have no advice, but I had wondewred how you had been crybaby. So a big Hello to you
                          If you can't handle me at my worst, then you sure as hell don't deserve me at my best.


                          Sometimes it is easier to widen doors than it is to open minds.

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                            #14
                            Originally posted by Crybaby2025 View Post
                            I am wondering if there are any home loan programs for disabled. Like a low income home loan program. You never know what is bullshit when you are reading some of these offers. I am wondering if anyone knows about a legit program. I work and am not on any kind of disability. I make ok money but I am still low income. Any suggestions?
                            Their are ways to private finance the down payment and get you in a house you can afford. With the glut of foreclosed homes a cash buyer makes an offer for you, you only put up a few thousand in earnest money and sign a promissory note to purchase the home. An appraiser can then appraise the property hopefully for more than the cash buyer paid, then they sign the property over to you with a Quit claim deed. Now you head to the bank with the deed to the property, the appraisal and you pay stubs to take out a mortgage on the property to pay the investor back.
                            ^^(A)^^

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                              #15
                              Thank you all for the advice.

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