Using Social Security Benefits
If a parent or legal guardian receives Social Security disability benefits on behalf of their child or dependent, this income can typically be used to qualify for the mortgage.
In order for the disability income to be eligible, the parent or guardian needs to show an SSA award letter, proof of current receipt, and proof that the income will continue for at least three years.
Grants For Disabled Entrepreneurs
The federal government offers grants for disabled persons for starting a business, and those don’t need to be repaid. Also check the Small Business Administration grants list and Department of Health and Human Services for private foundations and organizations, many of which fund such grants. Or try the National Arts and Disability Center if you’re an artist with disabilities needing money to promote your creative work. Corporate grants are another option.
Are You Building An Innovative Technology Company
1. Industrial Research Assistance Program This grant provides small to large grants to support the development and commercialization of innovative, technology-driven new or improved products, services, or processes in Canada. Funding could be hundreds of thousands in total and is provided to you before you incur the expenses. You need at least 1 full-time employee to qualify, though larger companies tend to get more funding.
2. Scientific Research and Experimental Development Geared towards companies conducting R& D activities in Canada, this is a refundable tax credit, so you get the credit after you have incurred the expenses. This is likely going to be your biggest source of cash, though the application and reporting are the most involved.
3. SmartStartProviding up to $70,000 , this grant supports Ontario-based start-ups transition from product development to market entry and company building. There are four application deadlines a year , though rumour has it that they run short on funds later in the year. So, it is best to apply earlier in the year.
Recommended Reading: Can You Join The Army If You Have Autism
Disability Loans Grants And Low Income Finance
Synopsis:List of financial assistance sources for low-income earners. Includes disability loans, grants, homeownership and mortgage guides, plus information on obtaining funds for accessible vehicles. Financial aid programs cover lending institutions for low-income people in major countries, including Australia, Canada, New Zealand, the UK, and the U.S. If you enter into a valid loan agreement, the value of the cash or item you receive is not income and does not reduce your Supplemental Security Income benefit.
Child Care Strong Awards List
Welcome to the Child Care Strong grants, administered by MDHSs Division of Early Childhood Care Department. These are grants offered to child care providers as a part of the American Rescue Plan and are designed to help with operating expenses. All of the information and application process for the Child Care Strong program will be available here. More information will be added as it becomes available, so please check back often!
Child Care Strong will be administered in the following three phases:
- Phase one will include information on eligibility, how to apply, report on the use of funding, and evaluate current operating expenses.
- Phase two will include application, awarding, and issuing of funding.
- Phase three will include the closeout process for these funds.
Don’t Miss: What Is Non Verbal Autism
Barrier Removal Tax Deduction
The Architectural Barrier Removal Tax Deduction encourages businesses of any size to remove architectural and transportation barriers to the mobility of persons with disabilities and the elderly. Businesses may claim a deduction of up to $15,000 a year for qualified expenses for items that normally must be capitalized. Businesses claim the deduction by listing it as a separate expense on their income tax return. Also, businesses may use the Disabled Tax Credit and the architectural/transportation tax deduction together in the same tax year, if the expenses meet the requirements of both sections. To use both, the deduction is equal to the difference between the total expenditures and the amount of the credit claimed.
Who Qualifies For A Usda Direct Loan
USDA subsidized home loans are available to borrowers including disabled borrowers who:
- Do not have safe, decent, or sanitary housing
- Are unable to get an affordable mortgage
- Meet citizen or eligible non-citizen requirements
- Are not barred from federal loan programs
- Have qualifying low income for their area
In addition, the home being purchased must meet the following guidelines:
- Square footage usually cant exceed 2,000
- Price cant exceed the area loan limit for 100% loans
- No in-ground swimming pool
- Must be a primary residence, and the property cannot generate income
Borrowers who qualify for the Housing Direct Loan can use the mortgage to buy a new or resale home. In addition, they can build, repair, or renovate a house.
The payback period is 33 to 38 years. This extended repayment, combined with the low rate, helps make payments affordable.
Also Check: Can Autism Run In The Family
Home And Housing Finance Information And Calculators
The Low-Income Home Energy Assistance Program may be able to help with:
- Assistance to pay your heating or cooling bills
- Emergency services in cases of energy crisis, such as utility shutoffs
- Low-cost home improvements, known as weatherization, and energy-related minor home repairs that make your home more energy efficient and lower your utility bills.
NOTE: LIHEAP funds may not be used to pay water and sewer bills.
Defining Loans And Grants
- In finance, a loan is a debt provided by one entity to another entity at an interest rate, and evidenced by a note which specifies, among other things, principal amount, interest rate, and date of repayment. A loan entails reallocation of the subject asset for a period of time, between the lender and the borrower.
- Non-repayable funds or products disbursed by one party , often a government department, corporation, foundation or trust, to a recipient, often a nonprofit entity, educational institution, business, or an individual. To receive a grant, some form of Grant Writing, often referred to as either a proposal or an application, is required.
Having good credit can help you in a surprising number of ways. A good credit history can result in getting that dream job, lower interest rates on car loans and house mortgages, and acquire better rates on your insurance policies, according to the Insurance Information Institute.
Also Check: Does Satoshi Tajiri Have Autism
The Best Business Loans For People With Disabilities
Starting and growing your own business can be incredibly rewarding, but it can also be very challenging, particularly if you have a physical or mental disability. According to the U.S. Census Bureau, almost 39 million Americans have a disability. Labor force participation and income among individuals with disabilities is lower than average.
Small business ownership can be a good way for people with disabilities to earn a living while having flexibility that a traditional day job might not offer. However, running a business can require a significant outlay of capital, and finding small business loans can be especially difficult if you struggle with a disability. Here, weâll cover the best business loans for people with disabilities, as well as grants and other ways to get capital.
Sba Community Advantage Loans
The SBA Microloan is similar to another program run by the SBAâSBA Community Advantage Loans. As with microloans, the SBA partners with nonprofit lenders throughout the nation to get these loans into the hands of small business owners. The purpose of these loans is to help small business owners in underserved groups, including the disabled population. Community advantage loans offer up to $250,000 in funding, so they can be used for pretty large business investments.
The application standards for SBA Community Advantage Loans are similar to those for SBA Microloans. You can use the SBAâs Lender Match tool to find a community advantage lender near you.
Recommended Reading: Does Temple Grandin Have Autism
Fill Out The Grant Application Here
Grant Amount: $500
Small businesses are facing unprecedented challenges due to the Coronavirus outbreak. With that in mind, my nonprofit, KFM Making A Difference/Kerrys Autism Journey, wants to help these businesses, through these financially challenging times, with a grant opportunity!
We are asking small businesses to write an essay of no more than 1,000 words sharing their story in addition to sending us at least 5 high-resolution images we can use in the story. This should be an original essay that has never been shared before. Things you might want to include in your essay include
- The year the business started, your businesses EIN number, and how many people with disabilities youve hired
- Your role in the company and how long youve been there
- The name of the small business.
- The small businesss mission.
- Why its important to give people with a disability a chance to find meaningful employment
- Any success stories youve had over the years.
- What it means to you to have a month to celebrate the importance of hiring people with disabilities.
Once we receive your essay via the grant application link above it will go live on Kerrymagro.com for others to view. By submitting this essay you also agree to allow us to make edits, most of which would most likely only be grammatical changes.
Need a speaker for your next event? I travel the country as a professional speaker & autism self-advocate and would love to work with you. Email me at for more details.
Business Grants For People With Disabilities
The only thing better than a business loan is a business grant. While you have to pay back a loan with interest, business grants donât need to be paid back. Russell says, âIf youre struggling to find a loan to start your business or just dont know where to begin, be aware that there are grants available for people with disabilities who want to start a small business. Rather than dealing with a loan, you might consider putting your work into qualifying for a grant. Even if you dont get the grant, youll have your paperwork in order and can then apply for loans.â
Government agencies, nonprofits, and private companies all provide business grants, some of which target entrepreneurs with disabilities. For instance, the National Arts and Disability Center offers grants to artists with disabilities who need money to promote their creative work. Veterans of Foreign Wars provides grants to veterans who have service-related disabilities. Grants.gov is the biggest repository of federal government grants, and is a great place to check for grants if your business is in a technology or science field.
The thing to remember with grants is that they are highly competitive. Grant agencies often receive thousands of applications for a small handful of grants. However, if you have a compelling story to share and a promising business idea, then you should exhaust grant opportunities before turning to loans.
Don’t Miss: What Help Is There For Autism
Do Fha Loans Accept Disability Income
Like the other loan programs described above, FHA loans allow both SSI and SSDI income on your mortgage application. According to FHA guidelines, disability income can be verified with any one of these documents:
- Federal tax returns
- The most recent bank statement showing receipt of income from social services programs
- A Proof of Income Letter, also known as a Budget Letter or Benefits Letter that shows income from the SSA
- A copy of the borrowers Social Security Benefit Statement
Another benefit of the FHA loan is that youre allowed to cover 100% of the down payment and closing costs using down payment assistance or gifted money. This eliminates the need to save up a large amount of money before you can buy a home.
On the downside, youd probably have to pay the FHAs mortgage insurance until you pay off the house unless you refinance out of the loan sooner.
Helping Entrepreneurs With Disabilities Build Their Business Future
Western Canadians who have a disability can access a network of business professionals and a world of resources through Western Economic Diversification Canada’s Entrepreneurs with Disabilities Program . The EDP provides business information, training and development, mentoring and one-on-one counseling services.
Don’t Miss: Is Autism A Disability Under The Equality Act
Grant Programs: Changing Systems Changing Lives
The Board is authorized under the Developmental Disabilities Assistance and Bill of Rights Act of 2000 to receive federal funds and act as an agent for systems change, capacity building and advocacy on behalf of people with developmental disabilities and their families. The Board awards grants to non-profit organizations, for-profit organizations, local public agencies, state agencies and institutions of higher education.
The Board’s 2017-2021 State Plan outlines the goals and objectives in the following federal areas of emphasis: Education & Early Intervention, Employment, Formal and Informal Community Supports, Health, Housing, Recreation, Quality Assurance, Transportation and Cross-Cutting areas. The Board also releases an Assessment of the Disability Services System in Virginia. The Board grants advance the State Plan goals and objectives and Assessment recommendations.
Mortgage With A Disability: Additional Resources
There are many state and local resources for home buying help. Among those are:
- The National Council of State Housing Agencies
- HUDs Local Homebuying Programs
Also, if you need it, you can find down payment assistance specifically for disabled home buyers.
Before you apply for any kind of mortgage, try to pay down your credit cards and avoid taking out new loans. This should help you meet program and lender credit score rules.
Also Check: What Gender Is Autism More Common In
Housing Grants For Disabled Veterans
Veterans Affairs provides grants to Service-members and Veterans with certain permanent and total service-connected disabilities to help purchase or construct an adapted home, or modify an existing home to accommodate a disability. Two grant programs exist: the Specially Adapted Housing grant and the Special Housing Adaptation grant – www.benefits.va.gov/homeloans/adaptedhousing.asp
VA Home Loan Versus CFHA Loans – A personal experience and comparison between a CFHA home loan and Veteran Affairs housing loans.
Can I Buy A Home On Disability Income
The Fair Housing Act says lenders should not ask about your disability. However, they will ask about your income, and income can be a major challenge for home buyers who have a disability.
With low or no income from standard employment, it can be hard to fall within your lenders debt-to-income ratio limits.
Thankfully, many home loan programs are happy to accept disability income on your application.
Eligible income sources for a mortgage can come from:
- Long-term disability income from an employer or insurer
- Supplemental Security Income through Social Security
- Social Security Disability Insurance
These types of income are allowed under all the major home loan programs, including conforming, FHA, VA, and USDA mortgages.
However, mortgage lenders are allowed to set their own lending guidelines, and some may choose not to accept certain kinds of income. So if youre denied due to disability income on your application, try again with a different lender. You might be approved elsewhere.
Read Also: How Does Autism Come About
Business Owners With Autism Who Are Thriving
By C. Dixon
As people with autism age out of school, the question about employment often arises. Adults on the spectrum can face social challenges, uncomfortable situations that can trigger stimming, or situations where theyre unable to communicate effectively. However, on the flip side, ASD adults have unique traits that could make them exceptional employees, whether its their intense focus or attention to detail. The challenges that people on the spectrum face dont necessarily bar them from a life of employment. The key is finding your niche, and finding a company that understands and accommodates autistic needs. The following is a list of adults on the spectrum who took their careers into their own hands, often with the help of family or friends. Take a look!
Explore All Your Home Buying Options
Mortgage lenders can connect you with loan programs that help people with disabilities become homeowners. Shop with several competing lenders to find the best program and most competitive interest rate for you.
In addition, be sure to ask your loan officer, real estate agent, or Realtor about financial assistance programs available in your area. There are many assistance programs for disabled home buyers and especially for low-income families or individuals. These programs can make buying your own home more affordable than many people expect.
Read Also: How To Raise An Autistic Child
Grants For Veteran To Start A Business
Veterans Business Outreach Center Program
There is a special dedicated division of the SBA to support veterans called the Office of Veterans Business Development . It exclusively promotes veteran entrepreneurs, reservists, active-duty service members, service-disabled veterans and their dependents and survivors.
They connect veteran small business owners with federal contract procurement opportunities and commercial market supply chains.
This program is administered through a network of national Veterans Business Outreach Centers find your nearest office here.
Vets First Verification Program
This program of the US Department of Verteran Affairs, is part of the Office of Small and Disadvantaged Business Utilization.
The program sets aside a percentage of lucrative federal contracts for firms owned by veterans and service-disabled to fairly compete and get contract awards. Learn more and how to apply here
Service-Disabled Veteran-Owned Small Businesses Program
Disabled veterans are given award preference for up to 3% of all federal contracting dollars annually. These are set-aside contracts and your veteran owned firm can also compete for contract awards under other SBA programs.
Qualifications for the disabled veterans program include:
Read more about your eligibility and application requirement here
The Military Reservist Economic Injury Disaster Loan Program
Boots to Business
The program consists of multiple types of veteran business support including: