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1st time home buyer in Pa (possibly md) on SSDI

I was just approved for ssdi last month.  My amount is 1500/month.  My credit score is 746.  Do I have a chance of getting a mortgage?  I've read online that you need a letter from your dr you will be disabled for 3 years?  What dr would write such a letter?  I'm not blind or a quad; I have severe anxiety.  I would hate to paint myself into a box and say 'well you CAN'T get better in 3 years'.  Will I be this way in 3 years?  I don't know.  If someone asked me today I'd like to stay positive and say no. 

Would the mortgage company consider back pay as part of the year year income measurement, or are they only concerned with 3 years into the future?  My dad has been paying my rent for the past 3 years while I waited for the disability process to go through. 

Living in a house would help me, since I'm afraid to leave my room with roommates.
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July 02 2010 - Frederick
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Profile picture for wetdawgs
I'm so sorry you are in this situation.  Congratulations on finally getting approval for the SSDI.

You are correct that one must have confirmation that the income is ongoing.   If a doctor signs such a statement, and in a year you are suddenly okay, do you have skills that will lead to employment rapidly?

Have you a good down payment saved up?
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July 02 2010
Profile picture for sephiro499
Yes I'm getting something like 40k from my lump sum, so I'd be ok downpayment-wise.

I do have the skills and ability to work.  My previous position was in IT so I do have a marketable skill.  Finding a job though in this economy though, I don't know. 
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July 02 2010
Profile picture for Ken Kopper
Sephiro499, the income would have to be shown to likely continue based on nature of disability and diagnosis rather than guaranteed to continue. Is your father also looking to live with you and does he have any verifiable income to contribute towards the monthly housing expense?
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July 06 2010
 
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