USDA and FHA Pro and Con in New-London, New London County, CT
As of 2026, in New-London, located in New London county, CT, the USDA loan maximum is $285,000, whereas for a single-family home, the FHA limit is $356,362.
Use the Lendersa® USDA loan calculator to compare current USDA rates with FHA rates. Determine the necessary income, credit score, reserves, and documentation requirements to qualify. Our sophisticated mortgage calculator makes it easy to view USDA, FHA, Conforming, and VA options side by side, assisting you in finding the most suitable program in for your unique financial situation.
2026 Loan Caps and Down Payment Needs in New-London, New London County, CT
Type of Loan
Max Loan
Down Payment
USDA
$285,000
Nil
FHA
$356,362
3.5%
Conventional Conforming
$548,250
3%
Available USDA and FHA Loans in New-London, CT
The aim of Lendersa® is to secure you the most advantageous USDA or FHA loan swiftly and with ease. Choose one of the following three options to initiate a match with lenders offering USDA loan programs.
A USDA home loan is a type of mortgage backed by the government via the Department of Agriculture, often referred to as a USDA rural development loan or USDA mortgage. It's designed for rural areas and requires zero down payment, unlike FHA loans, which necessitate at least a 3.5% down payment.
Lawrence Memorial Hospital Employees Federal Credit Union was organized under the laws of the United States in 1959 as a federally regulated co-operative whose sole purpose is to render financial services to its membership. Therefore, we operate exclusively for the benefit of our members who have access to a full range of financial services.
At Gateway Mortgage Services, LLC, our mission is to set a high standard in the mortgage industry. We are committed to quality customer service - putting the people we serve first. Our goal is to carefully guide you through the home loan process, so that you can confidently select the best mortgage for you
Scient Federal Credit Union is a member-owned, federally insured credit union that has been serving the needs of life science professionals and their families since 1968. Built upon the philosophy of “people helping people, ” Scient works to improve the quality of our members’ lives by providing tailored products
Chelsea Groton Bank is a mutually owned bank with 14 locations throughout New London County and a Loan Production Office in Hartford County. The Bank has over $1 billion in assets and serves businesses, individuals and families throughout Connecticut and Rhode Island. To learn more, please visit chelseagroton.com
Weimin Loans Mortgage one is more suitable, fixed interest rate or floating interest rate? Usually, if you plan to sell a house within 7 years, you can consider a floating-rate loan because its initial interest rate is lower than a fixed-rate loan. If the plan changes in the future, you can consider refinancing at that time.
Our mission is to serve our customers with honesty, integrity and competence. Our goal is to provide home loans to our clients while providing them with the lowest interest rates and closing costs possible. Furthermore, we pledge to help borrowers overcome roadblocks that can arise while securing a loan.
Our mission is to serve our customers with honesty, integrity and competence. Our goal is to provide home loans to our clients while providing them with the lowest interest rates and closing costs possible. Furthermore, we pledge to help borrowers overcome roadblocks that can arise while securing a loan.
Essex Savings Bank is a FDIC insured, state chartered, mutual savings bank established in 1851. The Bank serves the Connecticut River Valley and shoreline with six offices in Essex (2), Chester, Madison, Old Lyme and Old Saybrook providing a full complement of personal and business banking. Financial, estate, insurance
"We encourage people to call with any questions they may have about the mortgage or home buying process. We gladly give free consultations and pre-qualifications. We believe it is very important for borrowers to understand the entire mortgage process. We are open Monday through Friday, and Saturday and Sunday by appointment."
