No. If you are applying for Social Security (SS) disability benefits, owning a home will not negatively affect your eligibility for benefits. This is because the Social Security Administration (SSA) determines an applicant's eligibility based on the severity of his medical condition and ability to work, rather than any assets or resources he may have in his name. This means that it is possible for applicants to qualify for SS benefits even if they own multiple homes or vehicles, provided they meet the SSA's medical criteria for total disability.
However, the same cannot be said for Supplemental Security Income (SSI), the other disability-related program administered by the SSA. This needs-based program is only available to low-income applicants with limited assets and resources. The SSA currently caps the assets for SSI applicants at $2,000 for an individual or $3,000 for a couple, but not all assets are counted toward this limit. For example, the home you live in and the vehicle you use for regular transportation may be exempted, making it possible for some applicants to qualify for SSI even if they own their home or have their own vehicle.
In select instances known as concurrent disability claims, applicants may be eligible to receive both SS disability and SSI benefits, provided they meet the criteria for both programs.
Do You Need Help Applying for SS or SSI?
The SSA uses very specific criteria to determine SS and SSI eligibility, and applicants must include detailed medical information when applying. If this information is not included, the application may be rejected. Don't allow a small mistake or oversight to delay the approval of your benefits. Contact the experienced legal team at Keefe Disability Law for a free case evaluation or to request a free copy of the book, The Five Most Frequently Asked Questions About Social Security Disability. Our knowledgeable attorneys understand the disability application process and are ready to help you every step of the way.