USDA and FHA Pro and Con in Godfrey, Madison County, IL
For 2026, the USDA loan limit in Godfrey, within the county of Madison, IL, is $336,500. The FHA limit for a single-family home is $472,030.
Use Lendersa® USDA loan calculator to compare today's top rates between USDA and FHA loans, and figure out necessary income, credit, reserves, and documents for qualification. Our advanced mortgage calculator displays USDA, FHA, Conforming, and VA side by side, helping you select the best fit for your financial scenario in .
2026 Loan Limits and Down Payment Requirements in Godfrey, Madison, IL
Loan Type
Limit
Down Payment
USDA
$336,500
0%
FHA
$472,030
3.5%
Conventional Conforming
$726,200
3%
Available USDA and FHA Loan Options in Godfrey, IL
Lendersa® aims to get you the best USDA or FHA loan quickly, without hassle. Start with one of three pathways to get matched with lenders and USDA programs.
A USDA home loan, backed by the Department of Agriculture, also known as a USDA rural development loan or USDA mortgage, is available only in rural areas. It requires no down payment, in contrast to FHA loans which need at least 3.5% down.
Liberty Bank, headquartered in Alton, Illinois, was founded by area businessmen in 1994. Expanding to Godfrey in 1997 and Bethalto in 2006, it has since grown to include a total of four locations serving Madison County. In 2017, Liberty Bank joined United Community Bank and now includes more than 100 Bank & ATM locations
State Employees Community Credit Union has as its mission the responsibility for providing an efficient, effective, and well-managed financial institution that meets the needs of its membership. In order to accomplish this mission, the State Employees Community Credit Union will continue a sound yet progressive asset management strategy
Altonized Community Federal Credit Union is a not-for-profit cooperative providing the best service to our most important assets – our members.
Altonized Community Federal Credit Union is a full service financial institution owned and controlled by the members who join it. Since its charter in 1939
At Preferred Mortgage, Inc., offers the best services in mortgage financing at the lowest cost to you. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound choices. As full-service mortgage brokers, we offer a wide range of loans from government (VA, FHA)
On January 10, 1903, Theodore S. Chapman, Frederick Jacobs, Joseph R. Fulkerson, and Allen M. Slaten were granted permission to organize a bank to be known as the Jersey State Bank with capital stock of $25, 000.On January 28, 1903 Jersey State Bank opened its door for business at 123 West Pearl Street in Jerseyville
Midwest Members Credit Union has been serving our membership since 1935. . With our recent expansion, now people in 10 Illinois Counties are eligible for the benefits of being a member of Midwest Members Credit Union. Great savings and loan rates, most recent banking technology, mobile and online banking, and service to our communities
