Home financing in Andrew County.

Home financing is how most people pay for a house they cannot buy outright with cash. A lender — a bank, credit union, or specialty organization — loans you most of the purchase price.

You repay that loan over time, usually 15 to 30 years, with interest.

The home itself serves as collateral, meaning the lender has a legal claim on it until the loan is fully repaid.

In Andrew County, buyers most commonly use:

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

• **FHA loans** — backed by the federal government, allowing credit scores as low as 580 and down payments as low as 3.5%. Popular with first-time buyers.

• **USDA Rural Development loans** — many parts of Andrew County qualify as rural, making zero-down-payment USDA loans available to income-eligible buyers.

• **VA loans** — for eligible veterans and active-duty military, offering zero down payment and competitive rates.

• **ITIN loans** — for buyers who do not have a Social Security number but do have an Individual Taxpayer Identification Number. Offered by select lenders and credit unions.

Each loan type has its own rules, costs, and trade-offs. A local lender or housing counselor can help you compare them honestly.

Andrew County is a small, largely rural county in northwest Missouri, anchored by Savannah (the county seat) and surrounding agricultural communities. The local economy includes farming, small trades businesses, light manufacturing, and service industries tied to the nearby St. Joseph metro area just to the south.

**You may qualify if you:**

- Have steady income from self-employment, a trade, farming, or a W-2 job — even seasonal or mixed income can be documented.

- Have lived in the county or nearby area and can show 12–24 months of consistent income history.

- Have a credit score of 580 or higher (lower scores may still qualify through some ITIN or portfolio lenders).

- Are a first-time buyer, a returning buyer, or a small investor purchasing 1–4 unit residential property.

- Work as a solo contractor or small business owner — lenders will look at two years of tax returns, but local credit unions and CDFIs often understand self-employment income better than large national banks.

**ITIN holders:** If you pay taxes but do not have a Social Security number, you are not automatically excluded. Some local and regional lenders offer ITIN mortgage programs. You will need to show a strong history of on-time rent or utility payments, consistent income, and typically a larger down payment (10–20%).

**Income limits for USDA and state programs:** Many rural parts of Andrew County qualify for USDA Rural Development loans and Missouri Housing Development Commission (MHDC) programs, both of which have household income caps. These change annually — a local HUD-approved housing counselor can check your eligibility at no cost.

Gathering documents before you apply saves time and reduces stress. Requirements vary by lender and loan type, but most home purchases in Andrew County will require:

**For income:**

- Last 2 years of federal tax returns (all schedules, including Schedule C if self-employed)

- Last 2 years of W-2s or 1099s

- Last 2–3 months of bank statements (all pages, all accounts)

- Recent pay stubs (if you have a traditional employer)

- Profit-and-loss statement for the current year (self-employed buyers)

**For identity and residency:**

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

- Social Security number OR ITIN (for ITIN loan programs)

- Proof of current address (utility bill, lease agreement)

**For the property:**

- Signed purchase agreement (once you have one)

- Homeowner's insurance quote

- Any information about the property's well or septic system (common in rural Andrew County)

**For credit:**

- Lenders will pull your credit report — you do not need to bring it, but review your own credit at AnnualCreditReport.com first so there are no surprises.

**Tip:** Rural properties with wells and septic systems often require additional inspections. Budget time and money for these — they are normal in Andrew County, not a red flag.