I'm on a disability support pension for a case of epilepsy I've had since birth and currently living in community housing, I have never had any loans in the past and dont have credit cards. I dont drive and am single with no children at 30yrs old. Am I delusional to think I may get a loan to get my own home?
Cheers
ads23syd wrote:I'm on a disability support pension for a case of epilepsy I've had since birth and currently living in community housing, I have never had any loans in the past and dont have credit cards. I dont drive and am single with no children at 30yrs old. Am I delusional to think I may get a loan to get my own home?Cheers
If your in the states and you have a FICO score of “0” as in no history, I would say it will probably be a bit challenging. I am not a banker, but I have spent a lot of time talking to various banks about their lending requirements, and to say they have tightened things up, would be a huge understatement.
I would venture a guess though, if you had some CASH to throw at the bank, one of them will do it!
John
Hi there
Sorry to hear about the epilepsy.
Not at all you certainly your disability pension income would be considered by a few lenders however issue would be how much you could borrow.
The usual responsible lending criteria would be applied under NCCP if it was a home loan you were looking at so would largely depend on your available deposit and the likely purchase price.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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