Disabled and a mortgage

Lasardo · ‎02-28-2013

A little about my situation.
Im disabled, on SSD and have been since 2002. I am also a single mother trying to buy my first home.
My scores are as follows: 725 EX, 716 EQ and 756 TU.
My first concern: my income is way below 25k a year and do not have to file taxes, will I need to file prior to obtain a mortgage?
2nd: I have a car loan dating back to 2008 but the car will be paid off this month, will my scores be affected when that account closes?
Additionally, if that account closes and my history only goes back to 2011 will this be a issue?
3rd: I am an authorized user on a AMEX, that actually gave me about 30 points, will I need to remove myself before applying?
And last: I am hoping for a USDA loan and am wondering if I could qualify and where I can find a USDA map for my area.
Thank you for your time and advise.

CS 728- 01/13 from 554-12/11
Goal: 800

starry1 · ‎02-28-2013

No, the car loan will stay on your report for 10 ears after it is paid, so it won't effect your AAoA.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)

MovingForward_2012 · ‎02-28-2013

Your AMEX, you can remain an authorized user on that card throughout the application process. I am not sure about your tax question.

Last App: 4/5/13 Gardening until July 2014

JM-AM · ‎03-01-2013

Well personally you should file taxes anyways... Just because you dont pay taxes on your income does not mean you wouldnt be entitled to a refund. But in the same case it doesnt relieve you from having to pay taxes either.

When collecting SSD your income is raised up to a lot as if you were being taxed on your income and give you a gross amount.

Good Luck
May all your dreams and wishes become a reality!