Home financing in Dickey County.

Home financing, also called a mortgage, is a loan you use to buy a home. You make monthly payments over a set number of years — usually 15 or 30 — until the loan is paid off. The home itself serves as collateral, meaning if you stop making payments, the lender can take the property.

In Dickey County, most homes are in small towns like Ellendale (the county seat), Oakes, and Kulm, or on rural land.

Because the area is designated as rural by the U.S.

Department of Agriculture (USDA), many buyers here can access special rural loan programs with low or no down payments — but those programs are background context. What matters most is finding a lender who actually works in your county and understands the local market.

Home loans in this part of North Dakota often come through community banks, credit unions, or state housing finance programs rather than large national banks. That local connection matters because appraisals, property types (including manufactured homes and farmsteads), and land configurations here are different from urban or suburban markets.

Dickey County's economy is rooted in agriculture, small manufacturing, healthcare, and construction trades. Many residents are self-employed farmers, solo contractors, seasonal workers, or small business owners. Qualification for a home loan depends on a few key factors — and the rules are more flexible than many people think.

**Income:** Lenders want to see steady, documentable income. For W-2 employees, that is straightforward. For farmers and self-employed contractors, lenders typically average two years of income from tax returns. Some credit unions and CDFIs in the region are experienced with irregular income patterns common in agriculture.

**Credit:** Most conventional loans require a credit score of 620 or higher. FHA loans can go as low as 580. Some community lenders in rural North Dakota will work with buyers who have limited or thin credit histories, especially if you have a strong record of paying rent or utilities on time.

**ITIN Borrowers:** If you do not have a Social Security number but do have an Individual Taxpayer Identification Number (ITIN), you are not excluded.

Some credit unions and community development financial institutions (CDFIs) in North Dakota offer ITIN mortgage programs.

You will typically need two or more years of ITIN tax filing history, proof of residence, and a stronger down payment (usually 10–20%).

**Down Payment:** Programs exist that allow 0% down (USDA, VA) or 3.5% down (FHA). The North Dakota Housing Finance Agency (NDHFA) offers down payment assistance for qualifying buyers. Even without assistance, community lenders here often have more flexible standards than large national banks.

Getting your paperwork together before you talk to a lender saves time and builds trust. Here is what most home loan applications in Dickey County will require:

**For all borrowers:**

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

- Social Security number or ITIN

- Two years of federal tax returns (all pages)

- Two years of W-2s or 1099s

- Two to three months of recent bank statements

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

- Information on any outstanding debts (car loans, student loans, credit cards)

**For self-employed borrowers and farmers:**

- Two years of business tax returns (Schedule F for farm income, Schedule C for contractors)

- A year-to-date profit and loss statement

- Farm Service Agency (FSA) documentation if applicable

- Business license or contractor registration, if you have one

**For ITIN borrowers:**

- ITIN letter from the IRS

- Two or more years of ITIN tax returns

- Proof of consistent residence in the U.S. (rental agreements, utility history)

- Additional bank statements or remittance records may strengthen your file

**For the property:**

- Purchase agreement (once you have one)

- Property address and any legal descriptions for rural land

- Any existing well or septic inspection records if available

Organizing these documents into a folder — physical or digital — before your first lender meeting puts you in a stronger position.