Home financing in Brule County.

Home financing — most commonly called a mortgage — is a loan that allows you to purchase a home by paying a portion of the cost upfront (the down payment) and repaying the rest over time, usually 15 to 30 years, with interest. The home itself serves as collateral, meaning the lender has a claim on it if you stop making payments.

There are several types of home loans you may encounter in Brule County:

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

• **FHA loans** – Backed by the Federal Housing Administration, these allow lower credit scores and down payments as low as 3.5%. They are a useful option for first-time buyers.

• **USDA Rural Development loans** – Because most of Brule County qualifies as a rural area, many buyers here may be eligible for a USDA loan with zero down payment. This is one of the most powerful tools available to rural South Dakota buyers.

• **VA loans** – Available to eligible veterans and active-duty military members, with no down payment required.

• **ITIN loans** – Designed for buyers who have an Individual Taxpayer Identification Number (ITIN) rather than a Social Security number. These are offered by select community lenders and CDFIs.

The right loan type depends on your income, credit history, immigration status, and the property itself. You do not have to figure this out alone — local intermediaries listed in this guide can walk you through every option at no cost.

Brule County is a small, rural county in central South Dakota, centered around the city of Chamberlain on the Missouri River. The local economy is built on agriculture (ranching, row crops), tourism tied to the Missouri River and I-90 corridor, small retail and service businesses, and tribal economic activity connected to the Crow Creek Sioux Tribe and Lower Brule Sioux Tribe in neighboring counties.

Given this economic landscape, lenders who serve this area understand income that may look irregular to big national banks:

• **Farmers and ranchers** – Income may be seasonal or documented through Schedule F tax returns. USDA Farm Service Agency (FSA) programs and local ag lenders are familiar with this.

• **Solo contractors and self-employed workers** – Plumbers, electricians, painters, and other tradespeople may qualify using two years of tax returns and a profit-and-loss statement.

• **Tribal members and Native American buyers** – Buyers affiliated with federally recognized tribes may access special programs through the HUD Section 184 Indian Home Loan Guarantee Program, administered locally through tribal housing authorities and participating lenders.

• **ITIN holders and mixed-status households** – Buyers without a Social Security number can use an ITIN. Some local CDFIs and community banks will accept ITIN applications, particularly if you have a documented payment history (rent, utilities, remittances).

• **Low-to-moderate income buyers** – Brule County's median household income is below the state average, which means many buyers will fall within income limits for USDA, FHA, and South Dakota Housing programs — often an advantage, not a barrier.

If a lender tells you that you cannot qualify because you are self-employed, seasonal, or do not have a Social Security number, seek a second opinion from a CDFI or housing counselor before giving up.

Gathering your paperwork ahead of time makes the process smoother. Here is what most lenders in Brule County will ask for:

**For all applicants:**

• Government-issued photo ID (passport, state ID, tribal ID, or consular ID card / matrícula consular)

• ITIN letter from the IRS or Social Security card

• Two most recent years of federal tax returns (all pages)

• Two most recent months of bank statements (all pages)

• Recent pay stubs (last 30 days) or proof of income for self-employed buyers

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

• Landlord contact information or 12–24 months of rental payment records

**If self-employed or a contractor:**

• Two years of business tax returns

• Year-to-date profit and loss statement, signed by you

• Business license or DBA registration, if applicable

**If a farmer or rancher:**

• Schedule F from federal tax returns

• FSA farm records or crop insurance documents

• Any USDA loan account statements

**For ITIN applicants:**

• ITIN assignment letter from the IRS

• 12–24 months of alternative credit history: utility payments, insurance premiums, rent receipts, or remittance records

• Some lenders will accept a letter from your bank if you have maintained an account in good standing

**For tribal members using HUD Section 184:**

• Certificate of tribal enrollment or Certificate of Degree of Indian Blood (CDIB)

• Tribal authorization if the land is trust land

If you are missing any of these documents, a HUD-approved housing counselor can help you gather or rebuild your file — at little or no cost.