Mortgage While On Disability Income

This couple found this old article we had written years ago about getting a mortgage while on disability income. It was originally written back when home prices were very inexpensive.

I Wish I Had Never Written The Article

In hindsight, I wish I had never written to piece since in today’s world, it gives people false hope. We had written that it is possible for people collecting disability to get a home they can call their own. There once was a time when we could.

We Let Them Down Easy

This couple called from Toronto and were extremely kind people. They wanted to get a mortgage while on disability income. Immediately I thought that I would have to disappoint them. We talked, but unfortunately they were trying to buy something well above their means. Although their down payment and credit were excellent, their house tastes were expensive. I was very polite and let them know it just would not happen at their proposed purchase price. In my mind, we were done.

They Did Not Give Up – And Neither Did We

However, they called back and begged us to talk again. When I say beg, I mean in the classiest way possible. My work colleague Sean talked to them as well. They called back again. We said if they could come to us with a mortgage request of $150,000 or less, we will find a way.

Imagine our surprise when they found the cutest little home in the Niagara region. We got them the mortgage while on disability income! Now it was time to finally meet them in person. Imagine our surprise when one of the clients was blind. They had described living in a mould infested, disrepaired, subsidy housing in Toronto for $248/mth. They were so happy to find out that we got them the mortgage that the gentleman actually shed tears. It was time to start living with dignity. They really thought they received a gift from heaven, but I quickly realized that I did.

Robert Floris is a Mortgage Broker. His office is located at 651 Fennell Avenue East in Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 905-574-9200 #215. Alternatively, you can contact Robert here.

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