USDA Loan Vs. FHA loan pro & con Highland, Madison County, IL

As we move through 2025, the USDA loan limit in Highland, within Madison county of IL, is established at $336,500, contrasting with the FHA's cap of $472,030 for single-family residences. This is a crucial consideration for potential homebuyers evaluating options in the housing market.

To effectively compare today's premium USDA and FHA rates, make use of the Lendersa® USDA loan calculator. This powerful tool allows you to assess the necessary income levels, credit scores, financial reserves, and documentation required to secure a loan. With our advanced mortgage calculator, you can seamlessly compare USDA, FHA, Conforming, and VA loans side by side, enabling you to choose the best-fit program in that aligns with your unique financial profile.

Exploring USDA and FHA Loan Opportunities in Highland, IL

The mission of Lendersa® is to swiftly connect you with the optimal USDA or FHA loan, ensuring the process is straightforward and hassle-free. Start by selecting one of our three pathways, specifically designed to connect you with potential lenders and USDA loan programs suited to your needs.

Visual results of Lendersa USDA loan applications and matches

Defining the USDA Loan in IL

The USDA home loan, underwritten by the U.S. Department of Agriculture, also referred to as the USDA rural development loan or USDA mortgage, is exclusively available in rural areas. This loan distinguishes itself from FHA loans, which demand a down payment of at least 3.5%. The USDA loan requires no down payment, which offers a significant financial advantage to eligible borrowers in designated rural communities.

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(573) 736-2223 Lender's profile and map Reviews Bank of Crocker 214 S. Commercial, Crocker, MO, 65452 The Bank of Crocker recognizes e-mail as a simple method of communication and inquiries requiring immediate attention should NOT be sent by e-mail. A Bank representative may not be available to immediately review your message. E-mail messages will not serve as a sufficient method for any requirement imposed on you to provide written notice.
(812) 384-4473 Lender's profile and map Reviews Farmers and Mechanics Federal 225 East Main Street, Bloomfield, IN, 47424 FARMERS AND MECHANICS MUTUAL BUILDING, LOAN AND SAVINGS ASSOCIATION was organized on April 14, 1892 in Bloomfield, Indiana by a number of civic-minded individuals interested in the betterment of Bloomfield, through thrift and homeownership.The assets of the association in 1892 were $50,000.00. Assets grew at an exceptionally swift pace from 1892 to
(270) 326-6100 Lender's profile and map Reviews Regional Medical Center EFCU 200 Clinic Drive, Madisonville, KY, 42431 RMC Employees Federal 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 RMC Employees Federal Credit Union will continue a sound yet progressive asset management strategy
(270) 821-5555 Lender's profile and map Reviews First United Bank and Trust Company 162 North Main Street, Madisonville, KY, 42431 First United Bank and Trust Company is a real community bank, formed in 1996 to fill a need for traditional, personal banking in the area. Today, even though we’ve grown, our roots remain in community banking. Our focus is to support the communities we serve with the best possible products and services.
(270) 875-4640 Lender's profile and map Reviews Franklin Financial Group 329 North Main Street, Madisonville, KY, 42431 Working together, we have a common focus – a personal interest in meeting all your investment, insurance, financial planning, and retirement needs as they change throughout your lifetime. When you are a client of Franklin Financial Group, our goal is treat you like one of the family.
(309) 342-1775 Lender's profile and map Reviews Galesburg Burlington Credit Union 476 E South Street, Galesburg, IL, 61401 Galesburg Burlington Credit Union does not provide, and is not responsible for, the product, service, or overall website content available at a third-party site. Galesburg Burlington Credit Union neither endorses the information, content, presentation, or accuracy nor makes any warranty, express or implied, regarding any external site.
(309) 343-1777 Lender's profile and map Reviews Gale Credit Union 631 North Henderson Street, Galesburg, IL, 61401 Gale Credit Union was chartered in 1947 to serve employees of Gale Products, a division of OutBoard Marine Corporation. The credit union served only Gale (OMC) employees and employee families until 1983. In 1983, Gale Credit Union merged with the Knox County, City of Galesburg Credit Union,
(309) 342-8161 Lender's profile and map Reviews Tompkins State Bank 1380 N. Henderson St, Galesburg, IL, 61401 Tompkins State Bank is a community bank with offices in Avon IL, Abingdon IL, Knoxville IL, and Galesburg IL. Since 1884, TSB has been providing banking services and has continued to grow over the last 125 years. At Tompkins State Bank, we are your friends and neighbors. We are A Real Community Bank.
(309) 343-7141 Lender's profile and map Reviews F&M Bank Illinois 21 E. Main St, Galesburg, IL, 61401 The charter for The Farmers and Mechanics Bank was granted on March 31, 1869. Chauncey Colton founded F&M Bank, was its largest stockholder, and served as its first president. He and his associates chose a name that related directly to the real builders of the town, those hardworking farmers and the shoemakers
(815) 844-6155 Lender's profile and map Reviews Bank of Pontiac 300 West Washington Street, Pontiac, IL, 61764 Bank of Pontiac opened its doors for business in 1947. Since then, we’ve been providing financial solutions for the people of Livingston County, Grundy County, Tazewell County, McLean County and their surrounding communities. We are a strong community bank offering a variety of financial services to both individuals and businesses.
(815) 844-4433 Lender's profile and map Reviews State Bank of Graymont 1100 W. Howard Street, Pontiac, IL, 61764 The State Bank of Graymont was founded in 1913. Organizers for the State Bank of Graymont were headed by a Pontiac banker from the old National Bank of Pontiac. Other younger officers from the National Bank of Pontiac were also involved. Plus, there were other investors from the Pontiac area along with several investors from the Graymont area.
(309) 734-2265 Lender's profile and map Reviews Midwest BankCentre 200 E Broadway, Monmouth, IL, 61462 Midwest Bank is proud to be a locally-owned, community bank. Our employees understand that the foundation of our business is built on the relationships we have with our customers. We serve the communities with courtesy, professionalism and integrity; our customers are our neighbors, friends and family.