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I am currently unemployed and my husband just got approved for disability/social security benefits.

We have three children and are looking to become first time home buyers within the next year. I have excellent credit history/score & he has no credit. I will be employed within the next 3 months. What options do we have? by msdeana07286 from Summerville, South Carolina. Jul 5th 2015 Reply


Todd Glassman (Todd Glassman)
#1 ranked lender in South Carolina - 111 contributions

Give John Crivea a call at our office at 864-907-1089 to discuss this further about helping you with your goals.

Jul 6th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

More info would be needed.. but in general, if you have had a long gap between jobs, it's possible you will get denied. Lenders want to see a 2 year history of employment, and if you have a job gap longer than 90 days, they will make you wait at least a year, possibly 2 years before getting approved. Also, as far as your husbands disability, unless it's "Permanent" , and a doctor is willing to sign a letter stating so, then your husbands disability income cannot be considered. Typically with SS admin, those with disabilities have to visit a doctor annually to determine if their disability is still continuing.. if it is, your good for another year, but if the doctors says there's an improvement, then it's possible his benefits will be canceled.. For this reason, lenders can only consider income if it shows the likelihood of continuance for at least 3 years.. For a more specific response to your scenario, it's best you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jul 6th 2015
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