Home financing in Valley County.

Home financing — often called a mortgage — is a loan you use to buy or refinance a home. You borrow money from a lender, purchase the property, and then repay the loan over time (usually 15 to 30 years) with interest. The home itself serves as collateral, meaning the lender can reclaim it if you stop making payments.

There are several common loan types:

• **Conventional loans** are offered by banks and credit unions and typically require a credit score of 620 or higher and a down payment of 3–20%.

• **FHA loans** are federally backed loans with lower down payment requirements (as low as 3.5%) and more flexible credit standards — a good entry point for first-time buyers.

• **USDA Rural Development loans** are especially relevant in Valley County. Because most of the county qualifies as rural, eligible buyers may be able to purchase with zero down payment through USDA's Single Family Housing programs.

• **VA loans** are for eligible veterans and active military — no down payment required and no private mortgage insurance.

• **ITIN loans** allow buyers who do not have a Social Security Number but do have an Individual Taxpayer Identification Number (ITIN) to access home financing. These are offered by select community lenders.

Understanding which loan type fits your situation is the first step — and local lenders are your best resource for that conversation.

Valley County has a unique economic profile. McCall and the surrounding communities depend heavily on tourism, construction trades, hospitality, outdoor recreation businesses, and agriculture. Many residents are self-employed contractors, seasonal workers, or small business owners — income profiles that can look irregular on paper but are very real.

**You may qualify even if:**

- You are self-employed or do contract work (1099 income is accepted by many lenders with the right documentation)

- Your income is seasonal (lenders can average two years of tax returns)

- You are a non-citizen with an ITIN instead of a Social Security Number

- Your credit history is limited or imperfect

- You are a first-time buyer with a modest down payment

**General qualifying factors lenders look at:**

- Credit score (though some ITIN and CDFI lenders use alternative credit history)

- Debt-to-income ratio (your monthly debts vs. your monthly income)

- Employment or income history, typically 2 years

- Down payment funds and their source

- The property itself — condition and appraised value

Valley County's rural designation makes it eligible for USDA financing in many areas, which is a significant advantage for buyers who meet income limits. Ask a local lender to confirm eligibility for your specific address.

Gathering your paperwork early makes the process faster and less stressful. Here is what most lenders ask for:

**Identity & Residency**

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

- Social Security Number or ITIN

- Immigration documents if applicable (green card, visa, work permit)

**Income Documentation**

- Last 2 years of federal tax returns (all pages)

- W-2s or 1099s for the last 2 years

- Recent pay stubs (last 30 days) if you are a W-2 employee

- Profit and loss statement if self-employed

- Bank statements for the last 2–3 months

**Assets**

- Bank and investment account statements showing your down payment funds

- Gift letters if any portion of your down payment is a gift

**Property**

- Purchase agreement (once you are under contract)

- Property address for lender to order an appraisal

**Credit**

- Lenders will pull your credit report — you do not need to bring this

- If you have limited credit, gather utility bills, rental payment history, or remittance records as alternative proof

Keep digital copies of everything. Many local lenders and CDFIs accept documents by email or secure upload portal.