Home financing in Adams County.

Home financing — most commonly a mortgage — is a loan you use to buy a house or piece of property. You borrow money from a lender, then pay it back over time (usually 15 or 30 years) with interest. Your home serves as collateral, meaning the lender can reclaim it if you stop making payments.

There are several common types of home loans:

• **Conventional loans** — Offered by banks and credit unions. Usually require a credit score of 620 or higher and a down payment of 3–20%.

• **FHA loans** — Backed by the Federal Housing Administration. Accept lower credit scores (as low as 580) and down payments as low as 3.5%. A strong option for first-time buyers.

• **USDA Rural Development loans** — Many parts of Adams County qualify for this zero-down-payment program, because the area is designated rural. This is one of the most important loan types to ask about locally.

• **ITIN loans** — For buyers who do not have a Social Security Number but have an Individual Taxpayer Identification Number. Not all lenders offer these, but some do — and we name them below.

• **Idaho Housing loans** — State-backed loans with down payment assistance. Available through approved local lenders.

You do not need to be a U.S. citizen to buy a home in Idaho. Lawful permanent residents and, in some cases, borrowers with ITINs can qualify through the right lenders.

Adams County is a rural, sparsely populated county in west-central Idaho, with Council as the county seat. The local economy relies heavily on agriculture, timber, outdoor recreation, and small contracting businesses. Many residents are self-employed, work seasonally, or have income that looks different on paper than a traditional W-2 salary.

You may qualify for a home loan in Adams County if:

• You have steady income — even if it is seasonal, self-employed, or from multiple sources. Lenders can use tax returns, bank statements, or profit-and-loss statements.

• Your debt-to-income ratio (DTI) is generally below 43–50%. This means your monthly debt payments (car, credit cards, student loans) don't eat up more than 43–50% of your gross income.

• You have a credit score of at least 580 (for FHA) or 640 (for USDA Rural Development). Some ITIN lenders have their own criteria.

• You plan to live in the home as your primary residence (for most government-backed programs).

• For USDA loans specifically, the property must be in an eligible rural area — which includes most of Adams County — and your household income must fall within USDA limits. As of 2024, the typical limit for a household of 1–4 in Idaho is around $110,650, though this is updated periodically.

If you are self-employed or work as a solo contractor — which is very common in Adams County — be prepared to show two years of tax returns and a year-to-date profit-and-loss statement. The right lender will know how to work with non-traditional income.

Gathering your paperwork before you start talking to lenders saves time and stress. The exact list varies by loan type, but here is what most lenders in Adams County will ask for:

**For income and employment:**

- Last two years of federal tax returns (all pages)

- W-2s or 1099s for the past two years

- Recent pay stubs (last 30 days), or — if self-employed — a year-to-date profit-and-loss statement

- If you have rental income, lease agreements and Schedule E from your taxes

**For identity and residency:**

- Government-issued photo ID (driver's license, passport, or consular ID/matrícula consular)

- Social Security Number OR Individual Taxpayer Identification Number (ITIN)

- Proof of lawful residency if applicable (green card, visa)

**For assets:**

- Last two to three months of bank statements (all pages)

- Information on any retirement accounts, investments, or other assets

**For the property:**

- Signed purchase agreement (once you are under contract)

- Information on any existing liens or judgments on the property

**ITIN borrowers specifically** should be ready to show a longer history of ITIN tax filings — typically two years — and may need to provide additional proof of stable residency or address history. Ask your lender exactly what they need upfront.