Home financing in Kingsbury County.

Kingsbury County is a rural agricultural community anchored by the town of De Smet and surrounding townships. The local economy runs on farming, small retail, and service trades — which means many buyers here are self-employed, seasonal earners, or work in agricultural operations with variable income.

**If you are a W-2 employee:** Most conventional and government-backed loans are straightforward. You will need steady employment history (usually two years), a qualifying credit score, and a manageable debt-to-income ratio.

**If you are self-employed or a solo contractor:** Lenders will typically average your last two years of net income from tax returns (Schedule C or Schedule F for farmers). Some local lenders are more experienced with farm income and irregular earnings than large national banks.

**If you are an immigrant or do not have a Social Security Number:** Some lenders in South Dakota will consider borrowers with an Individual Taxpayer Identification Number (ITIN). ITIN lending is not offered everywhere, but it exists — see the lender section below for contacts. You do not need to be a U.S. citizen to own a home.

**If you are a first-time buyer:** South Dakota's SDHDA First-Time Homebuyer program has income and purchase price limits — for rural counties like Kingsbury, those limits are generally more accessible than in larger metros.

**Credit scores:** Most conventional loans want a score of 620 or higher. FHA allows as low as 580 (with 3.5% down) or even 500 (with 10% down). Some community lenders use manual underwriting and look at your full financial picture, not just a number.

Gathering your paperwork early makes the process much smoother. Here is what most lenders will ask for:

**Identity & residency:**

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

- Social Security Number or ITIN

- Immigration documents if applicable (green card, visa, EAD)

**Income:**

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

- W-2s or 1099s from the past two years

- Last 30 days of pay stubs (if employed)

- Profit & loss statement (if self-employed or a contractor)

- Farm income records or FSA documentation (if applicable)

**Assets:**

- Last two to three months of bank statements

- Statements for retirement accounts, investment accounts, or savings

**Property:**

- Purchase agreement (once you have an accepted offer)

- Property address and legal description

**Other:**

- Rental history or landlord contact (if you have not previously owned a home)

- Gift letter if part of your down payment is a gift from family

If you use an ITIN instead of an SSN, bring documentation of your ITIN assignment from the IRS, plus extra months of bank statements — ITIN lenders typically do more manual review.