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How Individuals on SSD Benefits Can Qualify for a Mortgage


How Individuals on SSD Benefits Can Qualify for a Mortgage

Millions of people dream of owning their own home. A home represents comfort, security, and a sense of stability that can have a big impact on your life. Whether you’re dreaming about big holiday dinners with family or sitting on the patio in your own yard on a summer night, your dream can be a reality. If you’re one of those people but you thought that you would never be able to own a home because your primary income is Social Security disability benefits you should know that you can get a mortgage with Social Security benefits as your primary source of money.

Prequalifying for A Mortgage

The first thing that you will need to do as you start the process of preparing to find a mortgage is prequalify. Prequalifying gives lenders a chance to assess your financial situation and decide how much money you could reasonably payback on a mortgage. When you prequalify, you’ll also get an approximate monthly payment for your mortgage, taxes, and fees so that you’ll have a better idea of what you can afford to spend on a home.

During the prequalification process lenders will look at:

  • Your Income

Income can mean any type of money that you receive. Your Social Security disability benefits count as income. So does alimony if you are receiving any from a divorce. If you have a small part-time business or you have some other type of money coming in that will count as income too. You don’t have to disclose income sources like alimony, but the more income you can document the better your chance of getting a mortgage is.

  • Your Investments

Do you receive returns from investments or money from an annuity? The mortgage lender will also look at any money that comes in from investments or related sources.

  • Your Social Security Benefits

If you are disabled and can’t work, it’s likely that your Social Security benefits make up the bulk of the money that you receive each month. If that’s the case, then documenting your Social Security disability benefits is going to be a very important part of the prequalification process.


How Individuals on SSD Benefits Can Qualify for a Mortgage

Verifying Your SSD Income

In order to verify the amount of disability benefits that you receive and to verify that you will be continuing to receive those benefits for at least three years, you will need to provide lenders with a copy of your statement from the SSA verifying and documentation your benefit award amount. You can get a copy of this statement from your local SSA office.


The amount of documentation that you will need to produce for a mortgage may seem intimidating. But the more documentation you have to show the better your chances are of getting a mortgage. If you stay organized and are patient, you can gather up all the documentation you need to increase your chance of mortgage approval.

It’s Worth It

Even though it might seem like the process of getting a mortgage takes a long time it’s worth the wait to finally be able to shop for your own home with a mortgage preapproval knowing that you can buy a home that will be just yours for as long as you want it.

Homebuyers should look into local loan programs, reduce their debt, and consult with a lender in their area. Greater Alliance offers a lot of home buying options for first time home buyers. You may also schedule a Zoom or Phone appointments to see which options are best for you. With over 80 years of experience serving Bergen and Passaic counties, we can guide you through the best options.