Yes, everyone is correct. You can own your own home and one car while on SSI. However, If your buy a home and your other home is not sold yet, that will count as a assest , but if you are renting then buy a home it should be fine. SSDI does not count resources or income .
Can a person buy a house while living on SSI and SSDI. – Best Answer: You can buy. You will keep your SSDI, but you will lose the SSI, which is welfare, as soon as you have an asset worth more then $2,000. So, when figuring your finances you need to do it without the welfare check, and only use the disability payment.
Social Security will not usually count your home toward the asset limit for SSI purposes. To qualify for disability benefits through the Supplemental Security Income (SSI) program, you must meet the Social Security Administration’s (SSA) definition of disabled and meet certain income and asset limits.
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Buying or selling a house would have no effect on Social Security disability benefits (SSDI). However, if you receive Supplemental Security Income (SSI), then proceeds from the sale of your home could potentially make you ineligible for SSI payments at least temporarily.
How to Buy a House Living Off Social Security. This protection helps elderly and disabled borrowers who live off of social security benefits buy a house. As long as your credit and property meet the lender’s guidelines, and you receive enough benefits to cover the housing payment, you can get a loan.
WHY ARE RESOURCES IMPORTANT FOR SSI? Resources are things that you own and can turn into cash. To get Supplemental Security Income (SSI) benefits, things you own that we count must be worth $2,000 or less for an individual, or $3,000 or less for a couple.
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