Home financing in Williams County.

Home financing means borrowing money to purchase a house, with the property itself serving as collateral for the loan. You repay the loan — called a mortgage — in monthly installments over a set number of years, typically 15 or 30. The lender charges interest, which is part of your monthly payment.

There are several common loan types:

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

• **FHA loans** — insured by the federal government, allow down payments as low as 3.5% and accept credit scores as low as 580. A useful entry point for first-time buyers.

• **USDA Rural Development loans** — many parts of Williams County qualify as rural, making zero-down-payment loans possible through this federal program.

• **VA loans** — for eligible veterans and active-duty military, offering zero down payment and competitive rates.

• **ITIN loans** — for buyers who do not have a Social Security Number but do have an Individual Taxpayer Identification Number. Several lenders in the region accept these.

Williams County sits in the Bakken region, which means home values have fluctuated with the energy economy. Understanding your loan type matters here — some programs have appraisal requirements that may come into play in a market that moves with oil prices.

Williams County is home to Williston, the largest city in the region and a hub of the Bakken oil patch. The local economy is shaped heavily by energy work — roughnecks, equipment operators, truck drivers, and oilfield service contractors make up a large part of the workforce. But the county also has ranchers, small business owners, healthcare workers, teachers, and a growing immigrant workforce, many of whom come from Latin America and work in construction, services, and oilfield support roles.

**General qualification factors lenders look at:**

- Steady income for at least two years (W-2 employment, self-employment, or contract work)

- A debt-to-income ratio (DTI) typically below 43–50%

- Credit history showing responsible repayment

- Enough savings for a down payment and closing costs

**Self-employed contractors and gig workers:** If you work for yourself, lenders will usually want two years of tax returns. Make sure your reported income actually reflects what you earn — under-reporting income on taxes hurts your ability to qualify.

**ITIN borrowers:** If you do not have a Social Security Number, you may still qualify for a mortgage using your ITIN. You will generally need 12–24 months of bank statements, a larger down payment (often 10–20%), and a solid two-year work history in the U.S. Several lenders listed in this guide work with ITIN borrowers.

**Seasonal and variable-income workers:** Energy work often comes in booms. Lenders may average your income over 24 months, so stable documentation is more important than any single big paycheck.

Gathering your documents before you start the application process saves time and reduces stress. Here is what most lenders in Williams County will ask for:

**Identity and residency:**

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

- Social Security Number or ITIN

- If applicable, immigration documents (green card, work visa)

**Income verification:**

- Last two years of federal tax returns (all pages)

- W-2s or 1099s for the last two years

- Recent pay stubs (last 30 days) or, for self-employed, a year-to-date profit and loss statement

- If you receive rental income, lease agreements and Schedule E from your tax return

**Assets:**

- Bank statements for the last 2–3 months (all pages, all accounts)

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

- Retirement or investment account statements if you plan to use those funds

**Property:**

- Signed purchase agreement (once you have an offer accepted)

- Contact information for your homeowner's insurance agent

**Credit:**

- Lenders will pull your credit report themselves, but it helps to review it first at AnnualCreditReport.com so there are no surprises

For ITIN applicants, bank statement programs may replace tax returns. Ask your lender early in the process what alternative documentation they accept.