Home financing in Valley County.

Home financing means borrowing money to buy, build, or improve a home, and paying it back over time — usually 15 to 30 years — with interest. The loan is secured by the property itself, which means the lender can take the home if you stop making payments. That's why understanding the terms before you sign anything is so important.

The most common home loan types you'll encounter in Valley County are:

• **Conventional loans** — offered by banks and credit unions, typically require good credit and a down payment of 3–20%.

• **FHA loans** — backed by the federal government, allow lower credit scores and down payments as low as 3.5%. A popular starting point for first-time buyers.

• **USDA Rural Development loans** — because Valley County is a federally designated rural area, many buyers here qualify for USDA loans with zero down payment required. This is one of the most important options for this region.

• **VA loans** — for veterans and active-duty military, offering zero down payment and no private mortgage insurance.

• **ITIN loans** — for buyers who don't have a Social Security number but do have an Individual Taxpayer Identification Number (ITIN). Several Nebraska lenders offer these.

Interest rates, fees, and terms vary by lender. Always compare at least two or three offers before deciding.

Valley County's economy centers on farming, ranching, small businesses, and service trades. Many residents — including agricultural workers, self-employed contractors, and newer immigrants — have income patterns that don't fit a standard pay stub.

That doesn't mean you can't qualify for a home loan.

It means you need a lender who understands how to document non-traditional income.

**General qualifications lenders look for:**

• Steady income (from employment, self-employment, farming, or a combination)

• A debt-to-income ratio typically below 43–45%

• A credit history (though some ITIN lenders and CDFIs work with thin or no credit files)

• Enough savings for a down payment and closing costs — though USDA and some state programs can reduce or eliminate the down payment requirement

**USDA eligibility note:** Most of Valley County qualifies for USDA Rural Development guaranteed loans because the population is well below the USDA rural threshold. This is a significant local advantage — zero down payment loans are genuinely available here, not just in theory.

**Self-employed and agricultural workers:** Plan to document two years of income through tax returns. A local lender or CDFI who works with farm families and contractors will know how to read your Schedule F or Schedule C properly.

**No Social Security number?** You can apply with an ITIN. Some community lenders and credit unions in Nebraska have developed ITIN mortgage programs specifically for immigrant families. See the lender section below.

Gathering your paperwork early saves time and reduces stress. Here is what most lenders will ask for. Not every item applies to every situation — your lender will tell you exactly what they need.

**Identity and residency:**

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

• Social Security number or ITIN

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

**Income documentation:**

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

• W-2s or 1099s for the past two years

• Two most recent pay stubs (if employed)

• Profit and loss statement (if self-employed or farming)

• Social Security or disability award letters (if applicable)

**Assets and debts:**

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

• Statements for any retirement or investment accounts

• Documentation of any gift funds used for a down payment

**Property:**

• Purchase contract (once you have one)

• Address and legal description of the property

**Tip:** Keep digital copies of everything. Rural Nebraska lenders often work by email and mail, so organized files speed up the process considerably.