Explore the differences! FHA VS Conventional loan programs in Salem, Marion County, Illinois
In the year 2025, the loan limit for conventional loans in Salem, which lies within the county of Marion in IL, is established at $726,200. Simultaneously, the FHA loan cap for a single-family residence is set at $472,030.
Utilize the Lendersa® Conventional loan calculator to compare today’s top rates across Conventional, FHA, and USDA loans. Evaluate what income, credit history, reserves, and documentation are necessary to qualify. The cutting-edge mortgage calculator allows you to easily see the array of Conforming Conventional loans beside USDA, FHA, and VA options, aiding your decision on which financing program in IL best fits your unique financial needs.
Loan limits and required downpayments for 2025 in Salem, county of Marion, IL
Loan Type
Loan Limit
Down Payment
Conventional Conforming
$726,200
3%
USDA
$336,500
0%
FHA
$472,030
3.5%
The data in this comparison table is applicable to zip codes: 62881
Available Conventional and FHA loan options in Salem, IL
The mission of Lendersa® is to efficiently connect you with the best possible Conventional, USDA, or FHA loan options, removing stress from the process. Select any of three different starting points that are crafted to align you with matching lenders and suitable loan offerings.
F&M Bank and its employees dedicate thousands of hours and dollars to the community and local economy. F&M Bank’s corporate philanthropy exceeds $300, 000 annually while our team dedicates their time to civic and nonprofit involvement in the markets where they live, work and play.
Let Southern Heritage Bank help celebrate one of the most exciting times of your life by choosing us for your mortgage needs!
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The mission of Chessie Federal Credit Union is to provide personal financial services to our membership in an efficient, friendly & convenient manner. The credit union idea was brought to Cumberland, Maryland when nine area men deposited a total of $65.00 to form the Cumberland B&O Employees Federal Credit Union.
ACT 1st Federal Credit Union was formerly Allegany County Teachers Federal Credit Union. The Credit Union was formed in 1950 by pooling funds from several teachers in the Allegany County School system. Today, the Credit Union serves individuals who live, work, worship, attend school in and businesses and other legal entities.
First Peoples Community Federal Credit Union is a member-owned cooperative committed to meeting the ongoing financial needs of its members in a safe, prudent personal manner, with the best service possible. As a community credit union, we support the development and expansion of the community.
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District 08 State Highway Employees Federal Credit Union, Charter No. 14651 came to it's being after an Organization Certificate was prepared and signed on October 12, 1961 and approval received on the 31st day of October 1961. District 08 Federal Credit Union was chartered under federal law.
Southern Heritage Bank is an independently owned community Bank with a concern for meeting the financial needs of the residents of Rapides, Catahoula, and LaSalle parishes. Southern Heritage Bank is currently celebrating 44 years of service to residents of Lasalle, Catahoula and Rapides Parishes!
1412 Centre Court Dr, Suite 101, Alexandria, LA, 71301
In 1999, a group of Louisiana community/business leaders founded Red River Bank on the ideals of community banking. Today we've grown to a statewide footprint, and that community commitment is stronger than ever.
The origins of Red River Bank can be followed all the way back to the very heart of Louisiana. There, near the banks of the Red Rive
