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If I have fixed SSI income of $2K/month what type of a mortgage can you qualify for? No other bills

So my boyfriend is looking to buy a house, he has a fixed income.  ABout 2K per month.  Yet no other bills.  There are many houses for sale now that are very reasonable even less then rent.  What type of loan should he look into and how much do you feel he will qualify for?  Is a FHA loan an option?
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October 31 2011 - Albany Park
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Its tough for any of us to give you advice on your lending situation without looking at the real numbers. Your best bet is to speak with a qualified lender. They will be able to tell you what you can and cannot afford.
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October 31 2011
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Is his credit score good? Does he have money for a down payment?

If he has sufficient money for a down payment and closing costs with a good enough credit score he should be able to get a mortgage. A lender will give you a complete answer. I would expect a mortgage up to somewhere around the $80,000 ballpark to be as much as might be possible to borrow. I could be wrong and it might be more or less.

Other debts and his total debt to income ratios and the interest rates can change the amount greatly.
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October 31 2011

Hello,

Try contacting a lender.  Here is a list of a couple of lenders you can speak with if you're interested:

Kelly J. Price

Senior Mortgage Loan Originator

Assistant Vice President

Fifth Third Bank - Chicago

837 W North Avenue, Chicago IL 60642

phone (312) 274-2280

cell (773) 501-6653

OR


Brian C. O'Connell, CMP
Sr. Mortgage Loan Originator
Construction Loan Expert
Direct 773-570-0087
Fax 312-873-4385

Good luck!

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November 01 2011
 
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If I have fixed SSI income of $2K/month what type of a mortgage can you qualify for? No other bills
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Latest reply by Evelyn S. Fred
November 01 2011 | 3 answers
  • Posted by ChicagoRealEstate11
  • In Using Zillow
  • October 31 2011
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