Home financing in Moore County.

Home financing means borrowing money to buy, build, or improve a home, then repaying it over time — usually 15 to 30 years — with interest. The most common product is a mortgage: the home itself serves as collateral, meaning the lender holds a legal claim on the property until the loan is fully repaid.

There are several types of home loans available in Moore County:

• **Conventional loans** — offered by banks and credit unions, typically 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%. A popular choice for first-time buyers.

• **USDA Rural Development loans** — parts of Moore County, including areas outside Pinehurst and Southern Pines, may qualify for zero-down-payment USDA loans due to their rural designation.

• **VA loans** — for eligible veterans and active-duty service members. Fort Bragg (now Fort Liberty) is nearby, making VA loans especially relevant in Moore County.

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

• **Construction and renovation loans** — for contractors or investors building or improving a property.

Federal programs like FHA, USDA, and VA set the rules — but you access them through a local lender, credit union, or nonprofit housing organization. That local layer is where your experience actually happens.

Moore County's economy is shaped by golf and resort tourism (Pinehurst is a global golf destination), healthcare (FirstHealth of the Carolinas is a major employer), retail and service trades, and a significant construction and landscaping workforce. This mix means many residents are self-employed, work seasonally, or earn income in ways that don't fit a standard W-2 pay stub — and that's okay.

**You may qualify for home financing in Moore County if:**

• You have a steady income history — even if self-employed. Most lenders want to see two years of tax returns or bank statements.

• Your debt-to-income ratio (DTI) is generally below 43–50%, meaning your monthly debt payments don't eat up too much of your income.

• You have some savings for a down payment and closing costs. Down payment assistance programs (covered in Section 4) can help close that gap.

• You have a credit score of 580 or above for FHA, or 620+ for conventional loans. If your score is lower, a local CDFI or credit union may still work with you.

• You have an ITIN instead of a Social Security number. Several lenders in and near Moore County offer ITIN mortgage products specifically for immigrant homebuyers.

**Self-employed contractors:** Lenders will typically ask for two years of Schedule C tax returns, a profit-and-loss statement, and bank statements showing consistent deposits. If your reported income is low due to business deductions, talk to a HUD-approved housing counselor before applying — they can help you present your finances clearly.

**Seasonal workers:** Some lenders will average your income over 24 months. Having a co-borrower with steady income can strengthen your application.

Moore County's rural and semi-rural geography also means USDA loan eligibility applies to many addresses outside the core towns. Use the USDA eligibility map (available free online) or ask a local lender to check your specific address.

Gathering documents before you talk to a lender saves time and reduces stress. Here is a plain list of what most home loan applications require:

**Income documents:**

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

• Last two years of W-2s or 1099s

• If self-employed: a year-to-date profit-and-loss statement and business bank statements

• Last 30–60 days of pay stubs (if you receive them)

**Identity and residency:**

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

• Social Security number — OR — ITIN letter from the IRS if you use an ITIN

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

**Assets:**

• Last two to three months of bank statements (all pages, all accounts)

• Documentation of any gift funds (a gift letter from the donor)

• Retirement or investment account statements, if applicable

**Property:**

• Purchase contract (once you have one)

• Most recent property tax statement (for refinances)

• Homeowners insurance quote

**Credit:**

• Lenders will pull your credit report themselves, but it helps to review it first at AnnualCreditReport.com — it's free and does not hurt your score.

**For ITIN borrowers:** Your ITIN assignment letter from the IRS, plus 12–24 months of bank statements showing consistent deposits, are especially important.

Tip: Keep all documents in a folder — physical or digital — so you can share them quickly. Missing a single page from a bank statement is one of the most common reasons loan processing slows down.