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Can a person be on Social Security Disability and be eligible for a FHA loan?

Can a person be on Social Security Disability and be eligible for a FHA loan?
  • October 17 2013 - New Castle
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Answers (6)

Yes it is possible for you to obtain an FHA loan. The main concern is that the SSD cannot be temporary so it allows the lender to know that you will have this stable income a prolonged period of time. If you have any other questions or need a loan please contact me through the information on my profile page. I hope this helps and good luck!
  • October 22 2013
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In CT, one of my mortgage lender's guidelines is that they will look for an expectation of continued income for 3 years and verify the income with a copy of the benefit or award letter.  
  • October 19 2013
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The main thing is continuance of income. If it is considered to be permanent disability, then the income can be used for any loan program. Your question indicated FHA, but there are other loan programs that could work as well or better depending on a few variables.
  • October 18 2013
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you can be eligible for a couple of different loan programs, FHA, VA, USDA, more info is needed to pre-approve you. maybe a Reverse mortgage could be helpful if there is equity. If you would like more information on programs please visit my profile.
  • October 18 2013
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The lender will need a copy of the Award Letter to show that it is permanent and it will be considered regular continuing income.
  • October 18 2013
  • 0Yes

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Yes, as long as the SSA disability income is permanent - not temporary.
  • October 18 2013
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