Americans with Disabilities Homes in Chicago

A person with a disability is no stranger to overcoming obstacles. However, buying a home often presents an entirely unique set of challenges than people without disabilities. Also, the costs of installing structural accommodations such as wheelchair ramps or bathroom grab bars can drive costs even higher. Fortunately, there is financial help for disabled homebuyers.

Federal Housing Administration (FHA)

The Federal Housing Administration, a subsidiary of HUD, offers services that include providing mortgage insurance on home loans made by approved lenders. The HUD website offers a search tool to find approved lenders.

An FHA-backed mortgage is sometimes informally called an FHA loan. This type of mortgage is generally less expensive since it has the backing of the government and may be a good choice for disabled homebuyers with limited income.

Fannie Mae

The Federal National Mortgage Association (Fannie Mae) is a government-sponsored enterprise that provides access to affordable mortgage financing. The process involves buying loans from mortgage lenders and packaging them to be sold to investors as mortgage-backed securities.

Fannie Mae’s HomeReady® Mortgage program includes special assistance for people with disabilities in the form of flexible underwriting on home loans.

U.S. Department of Veterans Affairs

The U.S. Department of Veterans Affairs, commonly known as the VA, offers housing grants to assist veterans who have certain disabilities connected to their time in service. With the Specially Adapted Housing Grants (SAH) or Special Housing Adaptation (SHA) Grants, eligible veterans can receive help in purchasing, building or remodeling to acquire homes that meet their needs.