FHA VS Conventional loan programs in Owatonna, Steele County, Minnesota
In the year 2026, the loan limit for a Conventional mortgage in Owatonna, Steele county of MN, is $726,200, whereas the FHA cap for a single-family home is $472,030.
To evaluate today's optimal rates for Conventional, FHA, and USDA loans, utilize the Lendersa® Conventional loan calculator. Identify the needed income, credit, reserves, and documents for qualification purposes. Our sophisticated mortgage calculator allows you to compare Conforming Conventional, USDA, FHA, and VA loans alongside each other, aiding in picking the best option for your financial circumstances in MN.
2026 Loan Limits and Down Payment Requirements in Owatonna, Steele, MN
Loan Type
Loan Limit
Down Payment
Conventional Conforming
$726,200
3%
USDA
$336,500
0%
FHA
$472,030
3.5%
This table is applicable to the zip codes: 55060
Conventional and FHA Loan Options in Owatonna, MN
Lendersa®'s goal is to promptly find the best Conventional, USDA, or FHA loans without unnecessary hassle. Choose from one of three starting strategies that connect you with suitable lenders and their loan programs.
Moose's Money is a private lender for business-purpose, non-owner-occupied investment real estate. We fund fix and flip, DSCR, bridge, BRRRR, new construction, and small multifamily nationwide, first lien only, entity borrowers. Loans from $50K to $3M. We fund most deals directly and place out-of-box deals through our lender network. Real equity and cash reserves required. Fast quotes and closings, every fee in writing upfront. No runaround.
HomeTown Credit Union is a not-for-profit financial cooperative owned by members. Serving the communities of Dodge, Rice, Steele and Waseca counties in Southern Minnesota, HomeTown Credit Union has two locations in Owatonna and one location in Faribault. Loan options include home loans, land loans, personal loans, auto loans, school loans and more.
First National Bank is a local, family-owned and managed bank that has been proudly serving southern Minnesota since 1874. We strive to meet the growing needs of our customers while developing and maintaining the personal aspects of service that is synonymous with community banking.
Heritage Bank is proud of its southern Minnesota history, rooted in local family ownership. Known as Farmers State Bank from 1930-2018, this community bank originated in West Concord, Minnesota.
In 1966, current owners, Al and Mary Ellen Organ, moved from the Rice Lake, Wisconsin area to West Concord.
On August 13, 2007 Reliance Bank opened its doors to the community of Faribault as a State Chartered, FDIC insured, full-service bank. Staffed with nine experienced bank employees, Reliance set off on a mission to become the best community bank. After its first full year of operation, Reliance Bank was given the coveted Faribault Area
101 East 5th Street, Suite 205, Northfield, MN, 55057
Lends in Minnesota
TwinCity Lending, we are honored to help you achieve the American dream through homeownership. We are Minnesota’s premier mortgage broker, and we deliver top-notch results through our concierge service.We love being part of a community that we can serve with excellence and integrity.
Frandsen Bank & Trust is a full-service community Bank with offices in Minnesota, North Dakota, and Wisconsin. Our complete selection of Banking products and services is delivered with superior customer service. We proudly offer business and personal Banking solutions along with wealth management trust* services.
First Security Bank is a local, family owned bank that is a proud supporter in helping customers achieve financial success and freedom. We are passionate about the community in which we live and work and strive to pay it forward and make a positive impact to better the lives of others.
The First National Bank of Le Center has been proudly serving the communties of Le Center and Kilkenny for over 100 years. We think the First National Bank of Le Center Facebook page is a unique way to communicate news to you, keep you updated about things going on in our community as well as an opportunity to get to know us.
