Home financing in Lewis County.

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 loan is secured by the property itself, meaning the lender has a legal claim on the home until the loan is fully paid.

For most buyers in Lewis County, the most common loan types are:

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

• **FHA loans** — backed by the federal government and designed for buyers with lower credit scores or smaller down payments (as low as 3.5%). These are context here, not the headline — what matters is finding a local lender who actually offers them in West Virginia.

• **USDA Rural Development loans** — Lewis County is largely rural, and many properties here qualify for USDA loans, which can offer zero-down-payment options for income-eligible buyers.

• **VA loans** — available to eligible veterans and active-duty military.

• **State-assisted loans** — the West Virginia Housing Development Fund (WVHDF) offers below-market interest rates and down payment help for qualifying buyers.

For real estate investors buying rental properties or fixing up homes, financing works a bit differently — you'll often see higher down payment requirements and shorter loan terms, but local CDFIs and credit unions sometimes have more flexibility than big national banks.

Lewis County's economy is shaped by healthcare (Stonewall Jackson Memorial Hospital is a major employer), government services, small-scale agriculture, logging, and a number of sole proprietors and independent contractors. This means many residents have income that doesn't fit neatly into a pay stub — and that's okay.

**Employed borrowers (W-2):** Most lenders will look for at least two years of employment history, stable income, and a debt-to-income ratio below 43–50%. A credit score of 580 or above opens FHA options; 620 or above broadens your conventional choices.

**Self-employed and solo contractors:** If you file a Schedule C, work as a 1099 contractor, or run a small business, lenders will typically want two years of tax returns to verify income. Some local lenders and CDFIs are more experienced with this type of borrower than national banks — seek them out.

**ITIN borrowers:** If you do not have a Social Security Number but have an Individual Taxpayer Identification Number (ITIN), you are not excluded from homeownership.

Some local credit unions and ITIN-friendly lenders in the region specifically offer mortgage products for ITIN holders.

You'll typically need 2 years of ITIN tax returns, a larger down payment (often 10–20%), and proof of steady income.

**Income limits for state programs:** The West Virginia Housing Development Fund programs have household income limits that vary by family size and county. Lewis County's limits are generally more accessible than urban counties — check current limits directly with WVHDF or a HUD-approved housing counselor.

**Real estate investors:** If you're buying a second home or a rental property in Lewis County, expect lenders to ask for a higher down payment (usually 15–25%) and to review your existing debt obligations carefully. Local lenders who know the Weston market can be more realistic about local property values than out-of-state underwriters.

Gathering your paperwork ahead of time makes the process much smoother. Most lenders in Lewis County — whether a local bank, credit union, or CDFI — will ask for some version of the following:

**For all borrowers:**

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

• Social Security Number or ITIN

• Two years of federal tax returns (all pages, all schedules)

• Two most recent W-2s or 1099s

• Two to three months of bank statements (all pages)

• Recent pay stubs (last 30 days) if employed

• Documentation of any other income (rental income, child support, disability, etc.)

• Signed purchase agreement or property address

• Homeowner's insurance quote (usually needed before closing)

**For self-employed or solo contractor borrowers, also:**

• Business tax returns (if filed separately)

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

• Business bank statements

• Any business licenses or contracts

**For ITIN borrowers, also:**

• ITIN letter or card from the IRS

• Two years of ITIN-filed tax returns

• Alternative credit history documentation (utility bills, rent payment history, remittance records) — some lenders accept these in place of a traditional credit score

**For real estate investors, also:**

• Current lease agreements on any properties you own

• Schedule E from your tax returns showing rental income and expenses

• Proof of reserves (savings you'll still have after the down payment)

Keep copies of everything. Never hand over original documents — only copies.