Click To View Links

First Time Home Buyers Credit



If you are on disability and buy your first home, do you still qualify for the first time home buyers credit?

=====ANSWER=====

Hello Friend,

I always enjoy meeting new people here in my First Time Home Buyers Blog. Thanks for coming by and asking me a question. Here I allow people to own my brain for a minute.

Your question is a good one, however I hate to mention this but the First Time Home Buyers Credit has ended in 2010.

So if the tax credit is what you are referring to, this will not work at this time.

However, even without a tax credit available, if you have enough income to qualify for it, you can still buy house if you are on disability.

The debt to income ratio (DTI) is important and your current credit picture.

To figure out your debt to income, click here. Use this calculator to figure out how much home you can afford.

To understand your credit requirements and to see if you qualify for a loan I recommend you look at this page, use the lenders link at the top of the page and they will take the time to help you through this mortgage process.

Just be sure to explain to them your situation, and tell them you are a first time home buyer.

I hope this helps. When I was in the mortgage business, I remember this one guy who was on disability that I was able to help buy a house.

His credit was in pretty good shape, his income was enough to buy a $50,000 house. He was so happy, he could not believe he could be a home owner.

It was an FHA Home Loan I put him in. I feel this is the best product on the market for first time home buyers.

Best Wishes,

Jeff Ragan

Click here to post comments

Return to Mortgage Questions.

New Jersey Grants

Click on Image to Learn More

South Carolina Grants

Click on Image to Learn More

Recent Articles

  1. FHA Lending Guidelines

    Jun 10, 17 02:58 PM

    According to the FHA lending guidelines, is it possible for escrow to be paid out of packet instead of rolled into the loan? What are the guidelines for a 2nd time home owner? These are answered below…

    Read More

  2. FHA Title 1 Loan Explained

    Jun 08, 17 08:15 PM

    Are you interested in the FHA Title 1 Loan program and wonder where to find a lender who works with this program? Others have wondered the same thing, find the answers on this page.

    Read More

  3. FHA Help

    May 26, 17 03:14 PM

    Would you like some FHA help? Perhaps you are wondering if it is wise to add a significant other to the mortgage? Or why a mortgage company would ask you to go conventional instead of FHA? Find answer…

    Read More

Buyer Programs

fha loans

The FHA Loan Products

Home Buyer Grants

zero down home loans

Zero Down Home Loans


Follow Us On Twitter

follow me on twitter