What should i do🤔

Question

I want to start saving up money for a house, so far i have $4,000 i receive EBT and i read and i was told that i can only have in my bank account 2,000 that if i have more than that they will take away my food stamps. And I really need the food stamp! Everything in NY it is so expensive and weird I don’t even know how im planning to buy a house, I don’t even have an idea on how to start. Can someone give me some advices?

Answer

So you have $4,000 and buying a house yet need ebt??
There are people struggling to make rent,homeless that NEED ebt.
Sounds like you're scamming the system

Answer

Please stop you definitely do not know how long she has been saving that money. I hate it when ppl are trying to do better and work hard at doing it but ppl like you want to tear them down. Only looking/reading what’s on the surface. Speak to a financial advisor or a realtor. They usually speak for you for the first time for free. Keep saving NY is definitely expensive!

Answer

Just keep 2,000 in the bank and the rest in a safe?

Answer

Just put the money somewhere else. They can see how much cash you have.

Answer

I would keep the cash out of your account

Answer

I don’t know the laws in your state, but you may have other options on where to store your savings. If you have a case manager or someone to consult, ask if you’re allowed to save money in a CD certificate of deposit or IRA retirement account. Keeping a lot of cash on hand puts you at risk for theft, plus it doesn’t gain any interest. I hope you can figure something out!

Answer

You need 6-10k for closing costs 1000 for inspection and appraisal. Good credit minimum 640 but they prefer 680+. Your credit will determine the interest rate. How ever if the rate is high you can pay points to reduce it that are tax deductible. 3.5% down. 2 years job experience. 2-3 years taxes, 1 month pay stubs, 3 months bank statements. Depending on the contract some as for 1000 deposit or 5000 with the good faith estimate and usually another payment after attorney review. All money has to be seasoned at least 3 months in a bank account or some other account. Or a gift and where it came from with a bank statement with a letter of explanation. Your mortgage or rent should not be more than 1/3 of your income so you can afford your other expenses. They look at your debt to income ratio. Credit cards. Car loans. Student loans etc. You can have up to 4 people on a mortgage if you don’t show enough income. Good luck.

What should i do🤔

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