Home financing in Clay County.

Clay County sits in south-central Nebraska. Its economy is anchored by agriculture, food processing, and small businesses. Many residents work in farming, manufacturing, construction trades, or run their own small operations. Here is what qualifying generally looks like in this local context:

**Income and Employment**

Lenders want to see stable income. If you are a W-2 employee — such as a worker at a local grain elevator, school, or meatpacking facility — two years of employment history is a strong foundation.

If you are self-employed or a solo contractor, lenders typically ask for two years of tax returns showing consistent earnings.

Seasonal agricultural income can count, but you may need to document it more carefully.

**Credit Score**

A score of 620 or above opens the most doors for conventional loans. FHA loans accept scores as low as 580 with a 3.5% down payment. Some ITIN lenders have more flexible credit requirements. If your credit is thin or damaged, local credit unions and CDFIs are often more willing to work with you than big banks.

**Down Payment**

USDA Rural Development loans — which are very relevant in Clay County given its rural designation — require no down payment for qualified buyers. FHA requires 3.5%. Conventional loans can go as low as 3% through certain programs. Nebraska's state housing agency also offers down payment assistance (see Section 5).

**Immigration Status**

You do not need to be a U.S. citizen to buy a home. Permanent residents, holders of certain visas, and even undocumented individuals with an ITIN can access mortgage products from specific lenders. See Section 4 for lenders in this region who offer ITIN mortgages.

**Property Location**

Most of Clay County qualifies as a USDA-eligible rural area. You can verify any specific address at the USDA eligibility map online before you start the application process.

Gathering your paperwork early makes the process much smoother. Here is what most lenders in Clay County will ask for:

**Identity and Legal Status**

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

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

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

**Income Verification**

- Last two years of federal tax returns (W-2s or 1099s)

- Last 30 days of pay stubs (if you are an employee)

- Last two years of business tax returns (if self-employed)

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

- Documentation of any additional income (rental income, child support, Social Security benefits)

**Assets and Savings**

- Last two to three months of bank statements

- Documentation of any gift funds being used for the down payment

- Retirement or investment account statements, if applicable

**Property**

- Purchase agreement or contract once you have found a home

- Property address for USDA eligibility check

**Credit**

The lender will pull your credit report directly with your permission. You do not need to bring a credit report yourself, but it is a good idea to review your own report beforehand at AnnualCreditReport.com so there are no surprises.

**Tip for ITIN Borrowers:** Some ITIN lenders accept alternative credit history — such as 12–24 months of on-time rent payments, utility bills, or remittance records — in place of a traditional credit score.