My Only Source of Income is Social Security.

If you are not employed, but receive income from social security or a pension, you can still qualify for a home loan. You will need to show proof of the amount you receive monthly and verify that you have been receiving it on a regular basis and can reasonably expect it to continue in the future.

One advantage of using Social Security as income is that you can gross it up 125%. For example if you receive $1,400 per month you can show on your mortgage application that you receive $1,750.

Even other sources of retirement, such as pensions, IRA payments, or annuity payments allow you qualify for a home. Collect those documents showing proof of the amount you receive and provide these to your mortgage broker.

With great credit and a low Loan to Value, it's common that you will not have to supply income documentation at all. There are a multitude of programs available to you, some of which don't even require you to be employed.

Chances are your not going to be losing your social security benefits anytime soon. For the lender this is great because they know your that much more likely to make your mortgage payment. Contact a local mortgage professional to see if you qualify.