I'm on ssi and havent been able to get one and my credit score is 750. I was told to that I had A good chance trying A in house financing lot (buy here pay here)
SSI is a valid income source and can be used to qualify for a home loan. With most lenders you can even use 25% more than the actual income amount to qualify since SSI is not taxed like other income types (this evens the playing field since employed people use their gross income when its known that it will be taxed before they can use it to repay the loan).
Check with your lender. But in general - yes. Be aware of predatory lenders and predatory lending practices.
i draw ssi benifits can i get a loan drawing only 698 a month?
You usually cannot get a loan on your SSI, though some payday loan companies may allow it. You can use it as your income source for the purpose of getting a loan.
yes
SSI is a valid income source and can be used to qualify for a home loan. With most lenders you can even use 25% more than the actual income amount to qualify since SSI is not taxed like other income types (this evens the playing field since employed people use their gross income when its known that it will be taxed before they can use it to repay the loan).
do i qualify for ssi if i raising a child thats not mine
no
Check with your lender. But in general - yes. Be aware of predatory lenders and predatory lending practices.
i draw ssi benifits can i get a loan drawing only 698 a month?
You usually cannot get a loan on your SSI, though some payday loan companies may allow it. You can use it as your income source for the purpose of getting a loan.
Yes.
Yes, a person receiving Supplemental Security Income (SSI) can be a cosigner for a car loan. However, being a cosigner does not directly affect their SSI income, as SSI is based on individual income and resources. It's important to note that if the primary borrower defaults on the loan, the cosigner may be responsible for repayment, which could impact their financial situation. Additionally, if the loan affects their overall resources or income, it could potentially influence their SSI eligibility.
There will be no effect.
SSI recipients are not liable for current, ongoing child support and child support, current or past-due, cannot be withheld from SSI payments. [SSI recipients are, of course, liable for any past due child support.]
yes
no