HOME FINANCING · TX

Home Financing Guide for Val Verde County, Texas

Val Verde County is a tight-knit, majority-Hispanic border community centered around Del Rio, where many residents are self-employed, work in trades, or hold ITIN rather than Social Security numbers. This guide walks you through the most common home financing options available locally — from community development lenders and credit unions to state-backed programs — so you can make a confident, informed decision without pressure. Origen Capital is a directory, not a lender; we never collect your personal information. Take your time, compare your options, and lean on the local intermediaries listed here who actually serve this region.

§ 01 — What it is

What Is Home Financing and How Does It Work Here?

Home financing simply means borrowing money to buy, build, or improve a home — then repaying that loan over time, usually 15 to 30 years, with interest. The lender holds a lien on the property until the loan is paid off. In Val Verde County, most buyers use one of three broad paths: **Conventional loans** — offered by banks and credit unions, typically requiring a credit score of 620 or higher and a down payment of 3–20%. **Government-backed loans** — FHA (Federal Housing Administration), USDA Rural Development, and VA (for veterans) loans. These often allow lower down payments and more flexible credit requirements. Because much of Val Verde County is classified as rural, USDA loans are particularly relevant here — they can offer zero down payment for eligible buyers. **ITIN loans and alternative-credit programs** — designed for residents who file taxes with an Individual Taxpayer Identification Number instead of a Social Security number. Several lenders and CDFIs in the region offer these. No matter which path you choose, the fundamentals are the same: income, credit history, debt load, and the property's appraised value all matter. The local lenders listed in this guide understand the realities of border-region employment — including seasonal work, self-employment, and cross-border income — better than national online lenders typically do.

§ 02 — Who qualifies

Who Qualifies? Factors Tied to the Val Verde County Economy

Val Verde County's economy is shaped by ranching and agriculture, retail and trade tied to the Del Rio–Ciudad Acuña border crossing, federal employment (Laughlin Air Force Base is one of the largest employers), healthcare, and a significant self-employed and small-business workforce. Lenders look at a few key factors: **Income stability** — W-2 employees (including federal workers and active-duty military at Laughlin AFB) generally have the easiest time documenting income. Self-employed contractors and ranchers need two years of tax returns and a profit-and-loss statement. Some ITIN-friendly lenders will accept alternative documentation like bank statements. **Credit history** — A score of 580+ can qualify for FHA; some ITIN lenders use rent payment history, utility bills, or remittance records as alternative credit. If you have no credit file, a local credit union may help you build one before applying. **Down payment** — USDA loans (common in rural Val Verde areas outside Del Rio's city limits) can require $0 down. FHA requires 3.5% down at 580+ credit. Conventional loans start at 3% for first-time buyers through certain programs. **Property eligibility** — Most of Val Verde County qualifies as a USDA-eligible rural area. Check the USDA eligibility map for your specific address before ruling this option out. **ITIN filers** — You do not need a Social Security number to own a home in Texas. Several lenders and CDFIs specifically serve ITIN filers who pay taxes and have consistent income. Having 2–3 years of ITIN tax returns on file strengthens your application significantly.

§ 03 — What you need

Documents You Will Typically Need

Gathering your documents before you talk to a lender saves time and reduces stress. Here is what most lenders in Val Verde County will ask for: **Identity and residency** - Government-issued photo ID (passport, consular ID/matrícula consular, or Texas driver's license) - ITIN letter from the IRS (if applicable) or Social Security card **Income documentation** - Last two years of federal tax returns (Form 1040), including all schedules - W-2s or 1099s for the past two years - Recent pay stubs (last 30 days) if employed - Profit-and-loss statement if self-employed (some lenders accept 12–24 months of bank statements instead) - For military/VA applicants: Certificate of Eligibility and DD-214 or current orders **Assets and debts** - Last two to three months of bank statements - Statements for any retirement or investment accounts - Documentation of the source of your down payment (gift letters if funds come from family) **Property** - Signed purchase contract (once you are under contract) - Property address for USDA or flood zone eligibility checks **Tip:** Many residents in Del Rio receive financial support from family members across the border. Some ITIN-friendly lenders accept gift funds from international sources — ask your lender explicitly about their policy on this.

§ 04 — Where to start in Val Verde County

Local Lenders, CDFIs, and Resources That Serve Val Verde County

This is the most important section of this guide. National online lenders rarely understand border-region income, ITIN filing, or rural property appraisal challenges. The organizations below have a track record of serving communities like Del Rio. **LiftFund (CDFI — serves all of Texas including Val Verde County)** LiftFund is one of the largest CDFIs in the Southwest and has deep experience with ITIN borrowers, self-employed applicants, and low-to-moderate income families. While primarily known for small business lending, they also connect clients to homeownership programs and financial coaching. liftfund.com | 1-800-723-3729 **Acción Texas (CDFI — Texas-wide, border-community focus)** Acción Texas serves small business owners and has partnered with housing counseling networks across South and West Texas. They can provide referrals and financial coaching even if they do not originate your mortgage directly. acciontexas.org **Del Rio Savings Bank (local community bank)** A locally rooted institution in Del Rio that has served Val Verde County for decades. Community banks of this size often have more flexibility than large national chains and understand local property values and employment patterns. **Rio Grande Federal Credit Union / Border Federal Credit Union** Border Federal Credit Union is headquartered in Del Rio and specifically serves the Val Verde County area. Credit unions are member-owned, tend to offer lower fees, and often have more flexible underwriting than big banks. They may offer ITIN mortgage products or connect you with a mortgage partner that does. borderfederal.org **SBA San Antonio District Office (context for contractor-owners)** If you are a solo contractor or small business owner looking to purchase commercial-residential property, the SBA San Antonio District Office covers Val Verde County. They do not lend directly, but can connect you with SBA-approved lenders. (210) 403-5900 **Texas State Affordable Housing Corporation (TSAHC)** TSAHC offers down payment assistance and mortgage programs for low-to-moderate income buyers across Texas, including Val Verde County. Their Homes for Texas Heroes program covers teachers, nurses, firefighters, and other public servants. tsahc.org **USDA Rural Development — Texas State Office** Because much of Val Verde County qualifies as rural, the USDA Single Family Housing Guaranteed Loan Program is a strong option for eligible buyers. Contact the local USDA service center in Uvalde (which covers Val Verde) to check property eligibility and income limits. rd.usda.gov/tx **NeighborWorks America / HUD-Approved Housing Counselors** Before signing anything, consider a free or low-cost session with a HUD-approved housing counselor. They can review loan offers with you, flag red flags, and help you compare options. Search at consumerfinance.gov/find-a-housing-counselor or call 1-800-569-4287.

§ 05 — What to avoid

Texas-Specific Regulatory Notes

Texas has some of the strongest homestead protections in the country, and several state-specific rules that affect how home loans work here. **Texas Homestead Law** — Once your primary residence is designated as your homestead, it is protected from most creditors (with exceptions for mortgage debt, property taxes, and a few others). This is a significant legal protection for homeowners in Texas. **Home Equity Loans (Section 50(a)(6))** — Texas has strict rules on home equity lending. You can only borrow up to 80% of your home's appraised value, and there is a mandatory 12-day waiting period after you apply before you can close. These rules protect you from over-leveraging your home. **Property Taxes in Val Verde County** — Texas has no state income tax but relatively high property taxes. In Val Verde County, property tax rates typically run between 1.8% and 2.5% of appraised value per year. Make sure your lender's escrow estimate accounts for this accurately. First-time buyers and seniors may qualify for exemptions — contact the Val Verde County Appraisal District in Del Rio. **Flood Zones** — Portions of Val Verde County along the Rio Grande and its tributaries fall in FEMA flood zones. If the property you are buying is in a flood zone, your lender will require flood insurance in addition to homeowner's insurance. Ask for a flood zone determination early in the process. **Texas Veterans Land Board (VLB)** — Texas offers its own veterans home loan program through the VLB, separate from the federal VA loan. It offers competitive interest rates for Texas resident veterans. vlb.texas.gov **ITIN and Texas Law** — Texas law does not prohibit ITIN holders from owning real property. There are no state-level restrictions; the main barriers are at the lender level, which is why ITIN-friendly lenders and CDFIs matter so much.

§ 06 — Ask a question

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