i want to buy a house but with my disability, i get money from the state! I would like to know if there is a special loan we disabled people can get

gracedorrie · Joined: 03 Nov 2009 Posts: 1 1.29 Dollars($)

I have been diagnosed with a disablity,I do recieve checks every month! My son is also disabled and he gets a check also! Now is there a special loan that deals with thses circumstances or do i have to go to a regular bank! My crdit sucks and i want to buy a home for once?

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You need at least a 640 fico score to get a good loan. Work on the credit first.

jenkin7 · Posted: Wed Nov 04, 2009 12:05 am Post subject:

Hi gracedorrie,

Which state are you located in? There are various states that offer affordable home loans to people with disability. For instance, Colorado Housing and Finance Authority (CHFA) offers loans at extremely low interest rate of 3%. It also offers a 2nd mortgage of $10,000 payable over 30 years at 1.5% to help the borrower with down payment and closing costs. However, it is important for you to work on your credit score to qualify for a home loan. Given the market situation, if you have bad credit, no one will want to offer you a mortgage.

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