Posted on: 02nd Nov, 2010 04:22 pm
My husband collects both Social Security Disability and VA disability, and has for the past 22 months. Before that, he was AD Army. His credit score is 730. He has been unemployed since he was temporarily medically discharged 22 months ago. While I have been employed, we would not be putting me on the title or the loan as his credit is much better than mine. We have about a year and a half before we either have to buy a home or find an apartment or house to rent, but we'd like to find out what is available to us as we would prefer to purchase a home as soon as possible. Also, we could have his parents co-sign a loan-- would that help and how? Thank you very much for you time and assistance.
Hi fruity_the_smurf ,
Welcome to Mortgage fit,
Even if your husband is getting social security it can't be termed as income.So in order to get the loan one should be able to provide income proof for at least last 2 yrs.If you or your in laws try to assist him being a co-borrower.
Feel free to ask any further query if you have......
DIPA
Welcome to Mortgage fit,
Even if your husband is getting social security it can't be termed as income.So in order to get the loan one should be able to provide income proof for at least last 2 yrs.If you or your in laws try to assist him being a co-borrower.
Feel free to ask any further query if you have......
DIPA
Hi fruity,
As your husband was in the Army, he can apply for a VA loan with the local lenders and check out whether or not he will be able to qualify for it. If he meets the criteria to qualify for a VA loan, then he can purchase the home with the help of it.
Thanks
As your husband was in the Army, he can apply for a VA loan with the local lenders and check out whether or not he will be able to qualify for it. If he meets the criteria to qualify for a VA loan, then he can purchase the home with the help of it.
Thanks