Home financing in Sherman County.

Home financing means borrowing money to buy, build, or improve a home, then paying it back over time — usually 15 to 30 years — with interest. The most common product is a mortgage, where the home itself serves as collateral. In Sherman County, most buyers use conventional loans, FHA-insured loans, USDA Rural Development loans (this area qualifies as rural), or VA loans for veterans.

Each loan type has different down payment requirements, credit score thresholds, and income limits.

Beyond traditional mortgages, some buyers in this region use owner-financing or land contracts — arrangements worth understanding carefully before signing. The right product depends on your income, credit history, immigration status, and what you plan to do with the property.

Gathering your paperwork early saves weeks of waiting. Here is what most lenders in this area ask for:

**For all borrowers:**

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

- ITIN or Social Security number

- Two years of federal tax returns (personal and business, if applicable)

- Two most recent months of bank statements (all accounts)

- Two most recent pay stubs or proof of income

- Proof of address (utility bill, lease agreement)

- Employment verification letter or self-employment documentation

**If self-employed or farming:**

- Two years of business tax returns or Schedule F

- Year-to-date profit-and-loss statement

- 12–24 months of business bank statements

**For ITIN applicants:**

- Valid ITIN letter from the IRS

- Two years of ITIN tax return transcripts

- 12–24 months of bank statements in lieu of credit score, depending on lender

**Additional documents that may be requested:**

- Purchase contract for the home

- Homeowners insurance quote

- Well and septic inspection reports (common in rural Sherman County)

- Property survey

Organize these in a folder — digital or paper — before you talk to any lender.