USDA and FHA Pro and Con in Salem, New London County, CT
For 2025, the USDA loan limit in Salem, located within New London county of CT, stands at $336,500. In comparison, the FHA limit for acquiring a single-family home is $472,030.
Employ the Lendersa® USDA loan calculator to contrast the most favorable current rates between USDA and FHA mortgages, and ascertain the necessary income, credit scores, reserves, and paperwork for eligibility. With our advanced mortgage calculator, you can compare details of USDA, FHA, Conforming, and VA loans side by side, empowering your decision on the best program suited for your financial needs in Alabama.
2025 Loan Limits and Down Payment Requirements in Salem, County of New London, CT
Loan Type
Loan Limit
Down Payment
USDA
$336,500
0%
FHA
$472,030
3.5%
Conventional Conforming
$726,200
3%
Exploring USDA and FHA Loan Solutions in Salem, CT
The primary aim of Lendersa® is to efficiently secure the most optimal USDA or FHA loan for you without the usual hassles. Choose from three starting points provided, which match you with lenders and the most suitable USDA loan programs.
A USDA home loan is a government-backed mortgage facilitated by the Department of Agriculture, also known as a USDA rural development loan or mortgage, which is only available in rural areas. Contrary to FHA loans that require a minimum down payment of 3.5%, USDA loans eliminate any down payment requirement.
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