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Vavas eyewear store by Niiiz Design Lab, Nonhyeon-dong / Gangnam District – Seoul

The unfinished concrete of the high ceiling sharpens the focus on the glossy and textured surfaces below, while the display object in the centre of the space commands attention with its visual contradictions. Strategically set at the top of the eye-catching terrazzo staircase, the display object appears solid and heavy even while partially floating above the surface of the floor.

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DIY Cardboard Star Wars Land Speeder

Buying a House on Disability Benefits or SSI

The complexities of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) benefits leave many people wondering not only if they can buy a home, but if buying a home will, in turn, affect their benefits in the future. The short answer is many people who receive SSDI and SSI benefits can and do qualify to buy a home, but will also likely face some additional hurdles unique to receiving these benefits.

How does SSI work?

SSI serves as a stipend resource for people with limited income who have a physical disability, and are 65 or older. These benefits are paid out monthly at the current rate of $735 for an individual and $1,103 for a couple, as of January 2017.

With a limited monthly income, it can seem incredibly difficult to save for a home while also covering ongoing household needs. According to 2017 Zillow data, 68 percent of renters cited saving for a down payment as the biggest hurdle to buying a home.

How does SSDI work?

SSDI is a resource available to those younger than 65, but it also requires work credits, meaning you must have worked enough during the years prior to applying for SSDI. While people receiving SSDI can face additional hurdles when trying to buy a home, they aren’t bound by the same income restrictions as people receiving SSI.

The problem, however, is that neither lenders nor recipients of SSDI benefits know how long the benefit income will last. In turn, it’s difficult to assess whether recipients have stable income – the Social Security Administration (SSA) only provides proof that people are actively receiving benefits instead of guarantees for the future. The SSA performs regular reviews of SSDI cases for continuance.

Buying a house on SSI

Buying a home while on SSI comes with its own set of unique challenges. Most notably, SSI rules limit the amount of income or assets you can have while remaining eligible for benefits. As a result, having enough money to buy a home – but not too much that you lose benefits – can be a fine line.

Because people on SSI can’t have assets valued at more than $2,000 as an individual or $3,000 as a couple, saving up enough cash for a down payment to even consider buying a home is difficult. On the bright side, not all assets count toward those limits. Case in point: The home you live in is considered your primary residence and is not considered an asset.

Although you might face additional challenges, buying a home on SSI is still possible.  Lenders look at your income and credit score, just like they would with any other loan applicant. But even if your credit score and income aren’t up to par, there are programs in place to help you get into a home. Need to find a lender? You can use Zillow to quickly find a lender who’s licensed to work in your area.

If you do acquire a home loan, it doesn’t count as income and doesn’t reduce your SSI benefits.

Find help

You can find many SSI housing resources when you’re thinking about buying a home. For instance, Fannie Mae offers loans for people with disabilities and loans to make necessary home improvements for your disability. Here are some examples:

  • Fannie Mae loans for disabled individuals
  • Individual Development Account (IDA)
  • Habitat for Humanity
  • Housing and Urban Development (HUD) Homeownership Voucher Program

While many paths to homeownership exist for people with disabilities, see if any local nonprofits in your area offer additional support. Make sure to consult with a lender who has experience with SSI or disability benefits.

Photos courtesy of Shutterstock.

Related:

Buying a House on Disability Benefits or SSI syndicated from https://twilighthomesnm.wordpress.com

101 café by Far Office, Changsha Shi / Hunan Sheng – China

We decided to locate a living room at the bottom of the plot, in the darkest area. We introduced plenty of pendant lamps, dropping from a square bamboo ceiling as the space centerpiece.

Mortgage rates today, January 18, plus lock recommendations

Mortgage rates today are driven by movements in financial markets worldwide. When the economy heats up, bond price drop, and rates increase. When the economy pulls back, interest rates tend to fall.

8 Minimalist Homes That Are Big on Style (Not on Stuff)

Stunning. Sleek. Neat. If these homes are any sign, 2018 is shaping up to be the year of keeping things simple, yet sophisticated.

From Philly to Phoenix, feast your eyes on eight minimalist homes so serene, they might just have you decluttering in no time.

Philadelphia, PA

1310 S 20th St
New construction: $635,000

Photo by PLUSH Image Corporation.

High ceilings and a palette of neutral colors make this Philadelphia living room feel open and luminous. From the Mid-Century Modern couch to the simple side tables, furniture with exposed legs adds to the appearance of ample space. Large windows allow abundant natural light to fill the room, giving it an airy feel.

Check out more homes in Philadelphia.

Austin, TX

4606 Avenue D
For sale: $1.35 million

Photo by Colt Verret.

Three Edison bulbs hang above the island of this Austin kitchen, giving it a radiant, yet clean look. A slate of uniform white cabinets makes the space feel open and spotless, while a stainless-steel farmhouse sink completes the look. From the bar stools to the sliding barn door, natural wood accents complement the kitchen – without the clutter.

See more homes for sale in Austin.

Newport Beach, CA

37 Rue Fontainbleau
For sale: $2.45 million

Photo from Zillow listing.

Set against walls of white, this minimalist chic bathroom is the perfect spot to cleanse the body and the mind. This Newport Beach space has flowing, zen-like design elements. The shower walls and double slipper tub have a sinuous look, reminiscent of the nearby Pacific Ocean.

View more homes in Newport Beach.

Dallas, TX

10506 Westlawn Dr
For sale: $1.3 million

Photo from Zillow listing.

Clean and chic, this Dallas dining room is a dream in simplicity. A modern, silver-colored chandelier provides a pop of inspiration, set against a classic backdrop of black and white. Hardwood floors and a natural wood dining table add warmth without the clutter.  

Find more homes in Dallas.

Chicago, IL

2429 N Artesian Ave
New construction: $999,000

Photo by Angelika Piatek Photography.

Crisp white walls and a bold, gray-paneled fireplace anchor this bright Chicago living room. Touches of light blush tones complement the simple aesthetic, while metallic-leg, Mid-Century Modern furniture adds to the minimalist chic. Clean, geometric lines – from the crisscross rug to the modern side table – complete the look.

(Listing photos are of a similar property built by the same developer.)

See more homes in Chicago.

Phoenix, AZ

3434 E Pasadena Ave
For sale: $1.5 million

Photo by Roehner+Ryan. Home staging by Local Trade.

Ample light and simple lines provide the soothing setting for this Phoenix home. Gold- and silver-colored light fixtures add to the glow, while a bar cart doubles as a storage space. It’s also a sneaky way to stash clutter in a pinch, keeping things neat and tidy.

Take a look at more homes in Phoenix.

Austin, TX

1309 Meriden Ln
For sale: $4.9 million

Photo from Zillow listing.

Sleep comes easy when a bedroom is this free of distractions. To the Lone Star State we go for a glimpse at this minimalist bedroom in Austin. Classic white walls provide a soothing visual backdrop, while the patterned rug integrates a simple, chic design. Floor-to-ceiling windows elongate the space, inviting in generous amounts of light.

Check out more homes in Austin.

Portland, OR

5291 SE 50th Ave
New construction: $524,900

Photo from Zillow listing.

The City of Roses blooms with minimalist ideas, including this living room. Long vertical lines – from the tripod lamp to the decorative wooden ladder – draw the eye upward, making the space seem larger. Touches of gray and blue add cool, soothing tones to an otherwise neutral space.

Find more homes in Portland.

Top image by Angelika Piatek Photography

Related:

8 Minimalist Homes That Are Big on Style (Not on Stuff) syndicated from https://twilighthomesnm.wordpress.com

New Virgin Holidays Experiential Store by YourStudio, Wales – UK

Not a store as we know it, the space includes a champagne and coffee bar, comfortable lounge areas and animated content to immerse you in a range of destinations. The Virgin Holidays rollercoaster invites customers to ‘jump on board’ and experience the exhilaration of traveling around the world and through a number of signature destinations on a trip you won’t forget.