0
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).
What else can I help you with?
Can I qualify for a VA backed home loan again?
Typically a VA loan is only available once per individual. If you have a spouse who is a veteran and has not used a VA loan, he or she may be able to take out a loan under his/her name.
Can you provide an example of how a mortgage works?
A mortgage is a loan used to buy a home. The borrower makes monthly payments to the lender, which includes both the loan amount and interest. If the borrower fails to make payments, the lender can take possession of the home through a process called foreclosure.
Where can one find information on Wells Fargo home loans?
Home loans from Wells Fargo can be found on their main website under the "loan" tab. All branches have loan consultants that can answer questions and start the loan process. The Wells Fargo website also has a mortgage calculator that can be used to estimate monthly payments and loan interest.
Can you explain how mortgage payments work?
Mortgage payments are monthly payments made by a borrower to a lender to repay a loan used to buy a home. Each payment typically covers a portion of the loan principal (the amount borrowed) and the interest (the cost of borrowing). Over time, more of the payment goes towards the principal, reducing the amount owed.
Can SSI payments be used to qualify for a car loan?
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)
Can I qualify for a VA backed home loan again?
Typically a VA loan is only available once per individual. If you have a spouse who is a veteran and has not used a VA loan, he or she may be able to take out a loan under his/her name.
Is there an easy way to apply for a va loan?
You can apply online for a VA Home Loan. The two most used sites are www.veteranloancenter.com and www.vamortgagecenter.com. If you need information on what you will need to qualify for a VA home loan, please visit the home loan information page at the Dept for Veteran Affairs at http://www.homeloans.va.gov.
Can you provide an example of how a mortgage works?
A mortgage is a loan used to buy a home. The borrower makes monthly payments to the lender, which includes both the loan amount and interest. If the borrower fails to make payments, the lender can take possession of the home through a process called foreclosure.
What are RV loan calculators used for?
An RV loan calculator is used to determine your payments based on the amount of the loan and the length of the loan. It will give you an idea of how much you will be paying for the RV.
What types of vehicles qualify for a commercial vehicle loan?
Any vehicle that is going to be used for commercial purposes would qualify for a commercial vehicle loan. You will also have to have commercial insurance on the vehicle.
Where can one find information on Wells Fargo home loans?
Home loans from Wells Fargo can be found on their main website under the "loan" tab. All branches have loan consultants that can answer questions and start the loan process. The Wells Fargo website also has a mortgage calculator that can be used to estimate monthly payments and loan interest.
Can you explain how mortgage payments work?
Mortgage payments are monthly payments made by a borrower to a lender to repay a loan used to buy a home. Each payment typically covers a portion of the loan principal (the amount borrowed) and the interest (the cost of borrowing). Over time, more of the payment goes towards the principal, reducing the amount owed.
Can SSI payments be used to qualify for a car loan?
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)
How do you know you qualify for an FHA loan?
FHA loans are the principle loans that are used to purchase a new home. The most important factors that the banks use to qualify someone for these loans is their credit score and the amount of money available for a down payment.
What is a mortgage loan used for?
A mortgage loan is used to purchase real estate, usually a home.
What is a VA home loan calculator used for?
A VA home loan calculator is used by military veterans to calculate their eligibility for a home loan such as a mortgage from a financial institution.
Can you get a loan for a home improvement project?
Yes, home equity loans and home equity lines of credit are typically used for home improvement projects. You can check with your mortgage lender and also your bank to see if you would qualify for one of these types of loans.
