Home financing in La Crosse County.

Home financing — most commonly called a mortgage — is a loan that lets you buy a home by paying for it gradually over time, usually 15 to 30 years, rather than all at once. The home itself serves as collateral, meaning the lender holds a legal interest in the property until the loan is fully repaid.

There are several types of home loans that buyers in La Crosse County commonly use:

• **Conventional loans** – Offered by banks and credit unions, these typically require a credit score of 620 or higher and a down payment of 3–20%. They are not government-backed.

• **FHA loans** – Backed by the Federal Housing Administration, these allow down payments as low as 3.5% and accept credit scores starting at 580. They are popular with first-time buyers.

• **USDA loans** – Because parts of La Crosse County and surrounding areas include rural and semi-rural communities (such as portions of the Town of Holland, Bangor, and West Salem), some buyers may qualify for USDA Rural Development loans, which can require zero down payment.

• **VA loans** – Available to eligible veterans and active-duty service members. La Crosse is home to a VA Medical Center, making this an important option locally.

• **ITIN-based loans** – Designed for borrowers who do not have a Social Security number but do have an Individual Taxpayer Identification Number (ITIN). Some local and regional lenders in Wisconsin offer these programs.

No matter which type fits your situation, the local intermediary — the lender, credit union, or nonprofit housing organization you work with in La Crosse County — is the most important relationship you will build during this process.

La Crosse County has a diverse and growing economy anchored by healthcare (Gundersen Health System and Mayo Clinic Health System are two of the largest employers), higher education (University of Wisconsin–La Crosse, Viterbo University, Western Technical College), manufacturing, agriculture, and small business. This economic mix means that many households have income from multiple sources — wages, self-employment, seasonal work, or a combination.

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

• Have steady income from an employer, self-employment, or a trade (electrician, plumber, landscaper, carpenter, etc.)

• Have been self-employed or a solo contractor for at least two years (lenders will ask for two years of tax returns)

• Have an ITIN instead of a Social Security number — several lenders in this region accept ITIN applications

• Are a first-time homebuyer with limited savings — down payment assistance is available in Wisconsin

• Have credit that is fair (580+) rather than perfect

• Are a veteran or active-duty service member connected to the La Crosse VA Medical Center

**Income limits may apply** for certain assistance programs. As a rough benchmark, the median household income in La Crosse County hovers around $55,000–$60,000. Many down payment and assistance programs serve households earning up to 80% or 120% of the Area Median Income (AMI).

Do not assume you do not qualify before speaking with a HUD-approved housing counselor or a local lender. Many La Crosse County residents are surprised to learn they are eligible.

Gathering your paperwork before you approach a lender saves time and reduces stress. Here is what most home loan applications in Wisconsin will require:

**For all applicants:**

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

• Social Security number OR ITIN

• Two years of federal tax returns (1040s, including all schedules)

• Two most recent W-2s or 1099s

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

• Proof of any other income (rental income, child support, alimony, etc.)

• Landlord contact information or 12 months of rent payment history (if renting)

**For self-employed workers and solo contractors:**

• Two years of personal AND business tax returns

• A current Profit & Loss statement (your accountant or bookkeeper can prepare this)

• Business bank statements (2–3 months)

• Business license or registration, if applicable

**For ITIN applicants:**

• Valid ITIN letter from the IRS

• Two years of ITIN-filed tax returns

• Proof of residence (utility bills, lease agreements)

• International passport or consular ID

• Credit references (some lenders accept rental payment history, utility payments, or remittance records as alternative credit)

**For the property:**

• Purchase agreement (once you have an accepted offer)

• Homeowners insurance quote

Keep copies of everything. Organize documents in a folder — digital or physical — so you can share them quickly when lenders request them.