Profile picture for 05118

what if

i have this property im interest in asking 135,000 its a flatplex with a tenant already in (a friend) on section 8 paying 975 . i want to know will i qualify to purchsaed this property with my situation.   im disabled and receive 750 amonth right now my only expenses is rent i always pay my credit cards off every month my score last time in nov. was 730 i have 8,000 in the bank and is waiting for a lump sum of 25,000 from ssi please respond i really like this house it next door to where i live now (with my mother) should I take  a risk. i would like a 15 or 20 year fixed loan i and a ga. deam certifate which allow me assistant and i qualify for others also.  thanks
  • January 10 2009 - Atlanta
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Answers (1)

Profile picture for missmunchkin

Does Social Security know that you have $8000?  SSI is a welfare program, so you might want to make sure you can still get SSI if you own an investment property.  Sounds fishy to me.

  • January 10 2009
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