Home financing in Washington County.

Home financing means borrowing money to purchase, refinance, or renovate a home, with the property itself serving as collateral for the loan. In Washington County, most buyers use a mortgage — a long-term loan repaid in monthly installments that include principal, interest, property taxes (held in escrow), and homeowner's insurance.

There are several common loan types you will encounter locally:

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

• **FHA loans** are federally backed loans that allow down payments as low as 3.5% and are more accessible for buyers with limited credit history. They are widely available through local lenders in Johnson City.

• **USDA Rural Development loans** are highly relevant in Washington County. Much of the county — including areas outside Johnson City proper — qualifies as rural or semi-rural under USDA maps, meaning eligible buyers may qualify for zero-down-payment financing.

• **VA loans** serve veterans and active-duty military. With a significant military-connected population in the Tri-Cities region, local lenders are experienced with VA products.

• **ITIN-based loans** are available through select lenders and credit unions for buyers who do not have a Social Security Number but do have an Individual Taxpayer Identification Number (ITIN). These are real, legitimate loan products.

The local intermediary layer — credit unions, CDFIs, and community banks based in the Tri-Cities area — is where most working families and contractors will find their best fit.

Washington County's economy is anchored by healthcare (Ballad Health is the region's dominant employer), East Tennessee State University (ETSU), manufacturing, construction trades, and a growing small-business sector. This matters for qualifying, because lenders evaluate income stability, and the types of work common here shape how applications are reviewed.

**Solo contractors and self-employed workers** in construction, landscaping, or trades will need to demonstrate consistent income over at least two years, typically through tax returns. Lenders in the Tri-Cities market are familiar with seasonal and project-based income patterns.

**Hospital and university employees** often have strong W-2 income and may qualify easily for conventional or FHA products at local credit unions.

**ITIN holders** — including members of the growing Latino community in Johnson City and surrounding towns — can qualify for home loans through ITIN mortgage programs.

You do not need a Social Security Number or U.S. citizenship to own a home.

What you do need is a valid ITIN, proof of income, a positive rental or payment history, and typically a larger down payment (10–20%).

**First-time homebuyers** of any background may qualify for down-payment assistance through Tennessee Housing Development Agency (THDA) programs, which are delivered locally through approved lenders.

General qualifying factors for most loan types:

- Steady income (W-2 or documented self-employment)

- Debt-to-income ratio typically below 43–50%

- Credit score (varies by product; ITIN loans may not require a traditional score)

- Sufficient down payment and closing cost funds

- Property must be located in Washington County or adjacent areas

Gathering your paperwork before you sit down with a lender will save time and reduce stress. Here is what is commonly required in Washington County:

**For all applicants:**

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

- Social Security Number OR ITIN

- Two most recent pay stubs (if employed by a company)

- Two years of federal tax returns (W-2s or 1040s)

- Two to three months of bank statements

- Proof of any additional income (rental income, child support, etc.)

- Landlord contact or 12–24 months of rental payment history (if you are currently renting)

**For self-employed contractors:**

- Two years of personal AND business tax returns

- Year-to-date profit and loss statement

- Business bank statements (2–3 months)

- Business license or contractor registration if applicable

**For ITIN applicants:**

- Valid ITIN letter from the IRS

- Passport or foreign government-issued ID

- 12–24 months of rental payment letters or receipts (very important)

- Utility bills showing consistent address history

- Two years of tax returns filed with your ITIN

**For the property:**

- Signed purchase agreement (once you are under contract)

- Homeowner's insurance quote

- Property address for appraisal

Keep originals organized in a folder and make digital copies. Local credit union loan officers can walk you through any gaps before you formally apply.