Home financing in Clinton County.

Home financing means borrowing money to purchase a residence — a house, a condo, a manufactured home, or a small multi-unit property — and repaying that loan over time, usually 15 to 30 years. The lender holds a security interest (a mortgage) in the property until the loan is paid off.

There are several common loan types:

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

• **FHA loans** — backed by the Federal Housing Administration. Allow lower credit scores (580+) and down payments as low as 3.5%. A useful starting point for many first-time buyers.

• **USDA Rural Development loans** — many parts of Clinton County qualify because of the county's rural character. These can offer zero-down financing for eligible buyers.

• **VA loans** — for qualifying veterans and active-duty military.

• **ITIN-based mortgages** — for buyers who do not have a Social Security Number but have an Individual Taxpayer Identification Number (ITIN). A growing number of lenders and CDFIs offer these products.

Regardless of the loan type, the lender evaluates your income, credit history, debts, and the property itself before approving financing.

Clinton County sits between Lansing and Owosso, with a mix of agricultural operations, light manufacturing, retail trade, and a significant number of self-employed tradespeople and contractors who serve the Greater Lansing metro area.

**If you are a W-2 employee**, qualification is generally straightforward — lenders want to see two years of employment history and recent pay stubs.

**If you are a solo contractor or self-employed**, you will typically need two years of filed tax returns showing consistent income. Lenders average your net income (after deductions), so be aware that aggressive write-offs on Schedule C can lower the income lenders count toward your loan.

**If you are a farmworker or seasonal worker**, some CDFIs and USDA programs allow seasonal income to be documented and averaged. The rural nature of Clinton County makes USDA Rural Development loans worth exploring specifically.

**If you have an ITIN instead of an SSN**, you are not excluded from homeownership. ITIN mortgage products exist and are offered by certain credit unions and mission-driven lenders in the Lansing area. These programs typically look at 12–24 months of bank statements and alternative credit history (rent, utilities, phone bills).

**Income thresholds** for programs like USDA and Michigan State Housing Development Authority (MSHDA) assistance are based on household size and area median income. Clinton County's median household income is roughly $65,000–$70,000, and many assistance programs serve households earning up to 80–120% of that figure.

Gathering documents early saves weeks of delay. Here is what most lenders in Clinton County will ask for:

**For all buyers:**

• Government-issued photo ID (driver's license, passport, consular ID, or matricula consular)

• ITIN or SSN documentation

• Two years of federal tax returns (all pages, all schedules)

• Two most recent W-2s or 1099s

• Two to three months of bank statements (all accounts, all pages)

• Most recent pay stubs (last 30 days)

• Proof of any other income: rental income, child support, disability, etc.

• Landlord contact information or 12 months of rent payment records

**If self-employed or a contractor:**

• Two years of personal AND business tax returns

• Year-to-date profit and loss statement (can be prepared by you or your accountant)

• Business bank statements (separate from personal, if available)

• Any business licenses or contracts showing ongoing work

**For ITIN applicants:**

• ITIN assignment letter from the IRS

• 12–24 months of bank statements as alternative income documentation

• Alternative credit references: utility bills, insurance payments, rent receipts

**For the property:**

• Purchase agreement (once you have one)

• Homeowners insurance quote

• HOA documents, if applicable

Tip: Keep digital copies of everything. Lenders may ask for the same document more than once during underwriting.