Home financing in York County.

Home financing — most often called a mortgage — is a loan that lets you buy a home and pay for it gradually over time, usually 15 to 30 years. You make a down payment upfront (often 3%–20% of the purchase price), and then pay the remainder in monthly installments that include principal, interest, property taxes, and homeowners insurance.

There are several common loan types available in Nebraska:

• **Conventional loans** — offered by banks and credit unions, typically requiring good credit and a down payment of at least 3%–5%.

• **FHA loans** — backed by the Federal Housing Administration, these allow lower credit scores and down payments as low as 3.5%. They are popular with first-time buyers.

• **USDA Rural Development loans** — since much of York County qualifies as rural, many buyers here can access USDA loans with zero down payment.

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

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

The loan type that works best for you depends on your income, credit history, immigration status, and the property you want to buy.

York County's economy is rooted in agriculture, food processing, manufacturing, and small business. Many residents work in industries where income can be seasonal, self-employed, or paid in cash — and that is okay. Lenders who work in rural Nebraska understand these income patterns.

**General qualification factors lenders look at:**

- Steady income (employed, self-employed, or farm income all count if documented)

- Debt-to-income ratio — your monthly debts should typically be under 43%–50% of your gross income

- Credit score — FHA loans accept scores as low as 580; USDA and conventional loans typically want 620+

- Two years of stable work history (or self-employment history)

- Sufficient funds for a down payment and closing costs

**York County-specific notes:**

- Much of York County — including areas outside the city of York — qualifies for **USDA Rural Development home loans**, which require no down payment and have competitive interest rates. This is one of the best programs available here and is underused.

- Self-employed contractors and farm workers can qualify, but will need to show two years of tax returns.

- Buyers without a Social Security Number can still qualify using an ITIN through select lenders (see Section 4).

- If your credit history is thin or damaged, local credit unions and CDFIs often offer credit-building programs before you apply for a mortgage.

Gathering your paperwork early saves time and stress. Every lender is a little different, but here is what most will ask for:

**For employed borrowers:**

- Last two years of W-2 forms

- Last two pay stubs

- Last two months of bank statements

- Federal tax returns for the past two years

- Government-issued photo ID

- Social Security Number or ITIN

**For self-employed or contract workers:**

- Last two years of federal tax returns (personal and business if applicable)

- Year-to-date profit and loss statement

- Last two months of business and personal bank statements

- Any 1099 forms received

**For ITIN borrowers:**

- Valid ITIN letter from the IRS

- Passport or consular ID (Matrícula Consular accepted by some lenders)

- Last two years of ITIN tax returns

- Proof of steady income and rental history

**Additional documents:**

- Proof of any down payment funds (gift letters if the money comes from family)

- Rental payment history if you don't have much credit history

- Divorce decree or child support documentation if relevant to your income

Tip: Do not close credit cards or open new lines of credit while your mortgage application is in process. This can change your credit score and delay or hurt your approval.