How can a disabled person buy a home>

[Potshot]

What is the name of your state (only U.S. law)? IL

I am 37, totally disabled. I have steady income, three kids and bad credit. Are there any programs I can qualify for home ownership? Can I buy the housing authority home I now live in (its a single family home, not part of a complex) I live in LaSalle County. I was just wondering, that despite a bad credit score, how can I own a home. I am disabled, but have steady income.

 

[Isis1]

What is the name of your state (only U.S. law)? IL

I am 37, totally disabled. I have steady income, three kids and bad credit. Are there any programs I can qualify for home ownership? Can I buy the housing authority home I now live in (its a single family home, not part of a complex) I live in LaSalle County. I was just wondering, that despite a bad credit score, how can I own a home. I am disabled, but have steady income.

you can start working on your credit score by negotiating with the companies you owe money to. start by paying them off one at a time.

 

[DAD10]

Yes, being disabled has nothing to do with it though. Your looking at a subprime lender-a larger down payment and other factors will probably be required.

 

[goddessoflubboc]

Many places have programs to help the disabled get into a home - particulary if the home needs to be modified for a physical disability.

However, you still have to qualify for the loan. Considering that the housing crisis was in large part due to insane sub-prime lending and interest only payments, the chance of getting a sub-prime loan is virtually nil.

 

[Antigone*]

Many places have programs to help the disabled get into a home - particulary if the home needs to be modified for a physical disability.

However, you still have to qualify for the loan. Considering that the housing crisis was in large part due to insane sub-prime lending and interest only payments, the chance of getting a sub-prime loan is virtually nil.

You will have to rehabilitate your credit in order to afford to purchase a home. The days of irresponsible lending are long gone ~ hopefully (for all our sakes)

 

[DeenaCA]

See this website: Homeownership - HUD.

If your housing authority offers homeownership vouchers, they include credit repair counseling as part of the program. Housing authorities that offer homeownership vouchers also provide for "subsidy layering" with any available state or local programs.