Home financing in Thayer County.

Home financing is simply a loan that lets you purchase or improve a property by borrowing money and paying it back over time, usually 15 to 30 years, with interest. In Thayer County — a largely agricultural, small-population county anchored by the city of Hebron — the real estate market moves differently than it does in Omaha or Lincoln.

Prices are lower, but so are local incomes, and many residents are self-employed farmers, independent tradespeople, or small landlords.

That means standard "big-bank" loan products often do not fit well.

The most common loan types you will encounter here are:

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

• **FHA loans** — federally backed, accepting credit scores as low as 580 and down payments of 3.5%, and often available to ITIN holders through select lenders.

• **USDA Rural Development loans** — extremely relevant in Thayer County because most of the county qualifies as a USDA-eligible rural area. These can offer zero-down-payment options for primary residences.

• **VA loans** — for eligible veterans and active-duty military, with no down payment required.

• **Portfolio loans** — loans that smaller local banks and credit unions keep on their own books instead of selling to the secondary market. These are more flexible for self-employed borrowers or those with non-traditional income.

For solo contractors and small real-estate investors, portfolio loans and USDA programs are often the most accessible starting point in Thayer County.

Thayer County's economy is built on agriculture, small construction firms, and local services. That means many residents earn income in ways that are harder to document on a standard loan application — seasonal farm income, 1099 contractor pay, cash-based side work, or rental income from a single extra property.

**General eligibility factors lenders look at:**

• Credit score (but not all lenders have the same minimums — portfolio lenders and CDFI lenders are more flexible)

• Income documentation — W-2s, tax returns, 1099s, profit-and-loss statements

• Debt-to-income (DTI) ratio — typically lenders want your total monthly debts to be no more than 43–50% of your gross monthly income

• Down payment — ranges from 0% (USDA) to 3.5% (FHA) to 5–20% (conventional)

• Property type and condition — rural properties sometimes need to meet specific appraisal requirements

**ITIN borrowers:** If you do not have a Social Security number, you can still qualify for home financing through certain lenders who accept Individual Taxpayer Identification Numbers (ITINs). A solid 2-year history of filing taxes with your ITIN, proof of steady income, and a reasonable down payment (often 10–20%) are typically what these lenders want to see.

**Self-employed solo contractors:** Expect to provide 2 years of personal and business tax returns. Some local portfolio lenders will use bank statements (12–24 months) instead of tax returns to verify income — ask specifically about "bank statement loans."

**Small real-estate investors:** Lenders will want to see that existing rental properties are generating income. Provide lease agreements and Schedule E from your tax return. Many local lenders in southeastern Nebraska are comfortable with small 1–4 unit investment properties.

Gathering your documents before you meet with a lender saves time and reduces stress. The exact list varies by loan type and lender, but here is a practical starting checklist for Thayer County borrowers:

**For most loan applications:**

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

• Social Security number **or** ITIN (with 2 years of ITIN tax returns if using ITIN)

• Last 2 years of federal tax returns (personal and business if self-employed)

• Last 2–3 months of bank statements (all accounts)

• Last 2 months of pay stubs (if employed by someone else)

• Proof of any additional income (rental income, child support, Social Security, etc.)

• 12–24 months of bank statements if applying for a bank statement loan

**For self-employed contractors:**

• Business license or DBA registration

• Year-to-date profit-and-loss statement (your accountant can prepare this)

• 1099 forms from the last 2 years

**For small investors purchasing a rental property:**

• Existing lease agreements

• Schedule E from your tax return showing rental income and expenses

• Documentation of any property management arrangement

**For USDA Rural Development loans:**

• Proof that the property is in an eligible rural area (your lender checks this)

• Household income documentation for all members of the household (USDA has income limits)

Tip: Keep copies of everything in a folder — digital or paper — so you can hand them to any lender quickly.