Will receiving food stamps affect me when I am trying to buy a house.?

Question

I was receiving food stamps 2 months ago and am now off them. I am now looking forward to buy a house and have been told by a friend that i will not qualify since i was receiving food stamps. I want to know if this is true.

Answer 1

No one will know, that is not something you disclose on the loan application.  They will look to see if you have sufficient income coming in to pay the loan.

Answer 2

I've been a loan processor, originator and underwriter for over 10 years.  I've never seen anything that told me someone got food stamps.  If your credit, income, assets and work history qualify, you're fine.  I don't think you meant you were doing this next week.  You were referring to the future.

Title VI prohibits discrimination on the basis of race, color, or national origin in programs and activities receiving federal financial assistance. That's directly off the HUD website.

Answer 3

I can't say for sure but I was on them a few yrs ago and have since then bought a house and a car. When they do credit checks they cant see if you got food stamps or not. I hope that helps.

Answer 4

no,it is not. But, if you are on food stamps you cannot afford to buy a house. you need 10% of the price as a down payment. sometimes renting is more economical.

Answer 5

Do you currently have a source of income and have been receiving that income steadily for 12 consecutive months or more?  do you already have savings for your downpayment, closing costs, incidentals like new towels and such for the new house, and still maintain at least 6 months of living expenses in a liquid savings account/

You have a LOT more to worry about with buying a house than whether or not you were receiving food stamps.  You need to look at the big picture first to make sure you are ABLE to buy a house in the first place.  Not to be rude but from the sounds of it, you aren't.

Answer 6

not true. The only thing the bank cares about is your ability to pay back the loan.