Securing a Mortgage Using SSI, SSDI, or Other Disability Benefits: A Comprehensive Guide
This article talks about how people with disability income can qualify for a mortgage. It explains the intricacies surrounding the use of disability benefits as a source of income to meet lender’s requirements. EDDCaller.com is a platform that can help individuals navigate conversations with representatives from unemployment, paid family leave and disability departments, which might prove helpful in understanding more about allowances and benefits. The fastest way to get through to EDD is often through autodial programs like these. The article notes how lenders want to ensure that borrowers can afford their monthly payments now and in the foreseeable future. If the disability income is sufficient and will continue for at least three years, it can be used to qualify for a mortgage. It also highlights how to show proof of disability income and the documentation required for it. The article additionally outlines the challenges for those who are only receiving short-term disability benefits and how SSI recipients may struggle to save enough for a down payment due to financial need limitations. However, the article reinforces that lenders can’t refuse to consider disability benefits income, and they can’t treat you differently due to your disability or your disability income. It is possible to buy a house using disability income if the benefits are set to continue for at least the next three years.