Home financing in Cache County.

Home financing means borrowing money to buy, build, or refinance a home — and agreeing to pay it back over time, usually with interest.

The most common tool is a mortgage: a loan secured by the property itself.

If you stop making payments, the lender can reclaim the property through foreclosure, so it is important to borrow only what you can comfortably repay.

In Cache County, home financing comes in several flavors:

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

• **FHA loans** — backed by the Federal Housing Administration, allowing down payments as low as 3.5% and credit scores as low as 580. A popular choice for first-time buyers.

• **USDA Rural Development loans** — many parts of Cache County outside Logan city limits qualify as rural, meaning eligible buyers may access zero-down-payment loans through the USDA program.

• **ITIN mortgage loans** — for buyers who do not have a Social Security Number but do have an Individual Taxpayer Identification Number (ITIN). Several lenders in Utah offer these.

• **Investment property loans** — if you are buying a rental property or a small multi-unit building (2–4 units), lenders will look at your rental income potential alongside your personal finances.

Federal programs like FHA and USDA set the rules, but local lenders, credit unions, and community organizations are the ones who actually process your application and guide you through closing. Start local.

Cache County's economy is shaped by Utah State University (USU), agriculture, light manufacturing, and a strong small-business sector. Logan is the county seat and largest city, but smaller communities like Smithfield, Hyrum, Providence, and Richmond each have their own character and housing needs.

**You may qualify for home financing if you:**

- Are employed full-time, part-time, or seasonally (agricultural or trade workers with documented income).

- Are self-employed or a solo contractor — lenders will typically ask for two years of tax returns.

- Work at USU or in the university's supply chain.

- Are a recent immigrant or DACA recipient with an ITIN and at least two years of filed U.S. tax returns.

- Have limited credit history but can show 12–24 months of on-time rent, utility, or phone payments.

**Income thresholds matter.** Cache County's median household income is roughly $60,000–$65,000. USDA Rural Development loans cap income eligibility at 115% of the area median income for your household size, which for Cache County in 2024 is approximately $98,000–$118,000 depending on family size. Check current limits at usda.gov or with a local lender.

**Solo contractors and gig workers:** You are not automatically disqualified. Lenders want to see stable, documentable income. Two years of Schedule C or Schedule SE filings go a long way. If your reported income is low due to deductions, talk to a HUD-approved housing counselor before applying — they can help you present your finances clearly.

**ITIN borrowers:** You do not need a Social Security Number to buy a home in Utah. Some local and regional lenders offer ITIN mortgage products. You will need two years of ITIN tax returns and additional documentation (see Section 3).

Gathering documents before you apply saves time and reduces stress. The exact list varies by lender and loan type, but here is what most Cache County lenders will ask for:

**For all borrowers:**

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

- Social Security Number OR Individual Taxpayer Identification Number (ITIN)

- Two most recent years of federal tax returns (all pages, all schedules)

- Two most recent W-2s or 1099s

- Two to three months of recent pay stubs

- Two to three months of bank statements (all accounts, all pages)

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

- Documentation of any other income (rental income, child support, Social Security)

**If you are self-employed or a solo contractor, add:**

- Business tax returns (Schedule C or partnership returns) for the past two years

- A year-to-date profit-and-loss statement

- Business bank statements (2–3 months)

- Any business licenses or contractor registrations

**If you are an ITIN borrower, add:**

- ITIN letter from the IRS

- Two years of ITIN-filed tax returns

- 12–24 months of bank statements (lenders may use these instead of W-2s)

- Alternative credit references: landlord letters, utility payment history, remittance records

**For investment property purchases, add:**

- Signed leases or rent rolls if the property is already occupied

- Projected rent estimate from a local property manager (if vacant)

- Documentation of your existing rental income (if you are already a landlord)

Tip: Make copies of everything before you hand anything over. You are entitled to copies of any appraisals or documents that lenders order on your behalf.