## Can You Get a Mortgage on SSI?
**Supplemental Security Income (SSI)** is a federal program that provides financial assistance to individuals who are blind, disabled, or over the age of 65. SSI payments are based on a person’s income and assets, and they are typically very low.
Due to the low income levels of SSI recipients, it is often difficult for them to qualify for a mortgage. However, there are some programs that can help SSI recipients purchase a home.
**FHA Loans**
FHA loans are government-backed loans that are available to borrowers with lower credit scores and incomes. FHA loans have lower down payment requirements and interest rates than conventional loans.
To qualify for an FHA loan, you must:
* Have a credit score of at least 580
* Have a steady income
* Be able to make a down payment of at least 3.5%
**USDA Loans**
USDA loans are government-backed loans that are available to borrowers in rural areas. USDA loans have low interest rates and no down payment requirements.
To qualify for a USDA loan, you must:
* Have a low income
* Live in a rural area
* Be able to make a monthly mortgage payment
**VA Loans**
VA loans are government-backed loans that are available to veterans and their families. VA loans have low interest rates and no down payment requirements.
To qualify for a VA loan, you must:
* Be a veteran or a member of the military
* Have a Certificate of Eligibility (COE)
* Be able to make a monthly mortgage payment
**Other Programs**
In addition to the above programs, there are also a number of other programs that can help SSI recipients purchase a home. These programs include:
* **Down payment assistance programs:** These programs provide grants or loans to help SSI recipients make a down payment on a home.
* **Closing cost assistance programs:** These programs provide grants or loans to help SSI recipients pay the closing costs associated with buying a home.
* **Homeownership counseling programs:** These programs provide free or low-cost counseling to help SSI recipients learn about homeownership and prepare for the mortgage process.
If you are an SSI recipient and you are interested in purchasing a home, there are a number of programs that can help you. You should contact a mortgage lender to learn more about these programs and to see if you qualify.
## Additional Resources
* [FHA Loans](https://www.fha.gov/)
* [USDA Loans](https://www.rd.usda.gov/)
* [VA Loans](https://www.va.gov/)
* [Down Payment Assistance Programs](https://www.hud.gov/buying/down-payment-assistance)
* [Closing Cost Assistance Programs](https://www.consumerfinance.gov/owning-a-home/closing-costs/)
* [Homeownership Counseling Programs](https://www.hud.gov/buying/homeownership-counseling)
## Conclusion
Purchasing a home can be a daunting task, but it is possible for SSI recipients. There are a number of programs that can help SSI recipients with the down payment, closing costs, and monthly mortgage payments. If you are an SSI recipient and you are interested in purchasing a home, you should contact a mortgage lender to learn more about these programs and to see if you qualify.