Beginning the Process
Before commencing on the actual home buying process, it is advisable to first of all consider and determine your needs in as far as your disability is concerned. This could be close proximity to the local pharmacies, public transport and the physical layout of the house. It is imperative to avoid features like long driveways and narrow stairwells. After establishing these needs, you will then see how much you can afford to shelve for the project in order to know the neighborhood or type of house to search for.
Seeking Assistance
Buying your own house is not a walk in the park especially if you are not familiar with the various procedures of making an application for a home loan and qualifying for the same. It might also be a daunting task if you are not well versed with the different terminologies used in real estate or you do not understand the industry as a whole.
Fortunately, aid is around the corner as the Department of Housing and Urban Development (HUD) has a number of housing counselors that have been approved in every state. These housing counselors are there to assist disabled persons in buying their homes. They will offer you a lot of insight if there are any pertinent issues regarding your case that need to be addressed. They can also point you in the direction of financial assistance programs that are relevant.
Learn and Understand Your Rights
Your rights as a disabled person are well protected in the Fair Housing Act that prescribes prohibitions to housing providers like sellers, lenders and real estate agents from doing discriminatory acts against you. The discriminatory acts could be in the form of altering the criteria for application and qualification, terms and conditions or fees payable. The Act also offers permission to make some reasonable modifications to the property like accessibility ramps or bathroom grab bars.
Financial Help
A number of people with disabilities are from the low-income bracket. As such, they cannot access the available standard mortgage loans since they cannot qualify for them. The section 8 Home ownership Voucher program was launched by HUD to help low-income families and individuals rent or buy their own homes. The program is able to assist by ensuring that it subsidizes the monthly mortgage payments. You should contact your local authority in charge of public housing to see how you can get help.
There is also the option of the Habitat for Humanity (HFH), a non-profit program involved in building and rehabilitating accessible homes for those in need. The HFH affiliates have their own rules but on a general scale, the homes are usually sold for the same amount used to build them and require a deposit first. You can also get a mortgage-assistance program with this option.
There are other places where you can get private or public housing loans and grants that can cover financial aid for making modifications. The American Association of People with Disabilities offers between $1,500 and $25,000 on extended terms for payback to build upgrades. You can also get mortgages from institutions that assist people with disabilities to acquire new homes. You could also decide to use the compensation you get from your personal injury claim to finance the buying of a new home.
Written by Mikkie Mills
Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate, Long & Foster Avalon
