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Can you buy a house, if you are on Medicaid?

Best Answers

If you can document enough income to meet the lender's criteria, yes. Being on any form of “public assistance” is not a bar to getting a loan—in fact it is against the law for any lender to discriminate for such a reason. read more

If you qualify (legally) for medicaid, you do not have the assets necessary to buy and maintain a house.Besides mortgage, there are property taxes, maintanence (e.g. plumbing, heating repair) and with little downpayment, P.M.I. read more

But if you live in a house you own, the house will NOT count as an asset when Medicaid and SSI decide on your eligibility. So, owning the house will not affect either your eligibility for Medicaid or SSI, or the amount of your benefits, as long as you live in it. read more

Additionally, if you own property you become ineligible for Medicaid assistance because you own something of value. Medicaid is designed to help people who would be considered poor. If there's an option to buy a house while you are desperately struggling financially I have not heard of it and I would doubt that it would be available. read more

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