USDA Vs. FHA Pro and Con comparison in Mount-Carmel, Wabash County, IL
In 2025, the loan limit for USDA in Mount-Carmel, located in Wabash county, IL, is $285,000. In comparison, the FHA limit for a single-family home is $356,362.
Utilize the Lendersa® USDA loan calculator to compare the best current rates from USDA versus FHA, and figure out the necessary income, credit score, reserves, and documents needed to qualify. Our advanced mortgage calculator lets you examine USDA, FHA, Conforming, and VA programs side by side, enabling an informed decision about which option in best suits your unique financial situation.
2025 Loan Limits and Down Payment Requirements in Mount-Carmel, Wabash County, IL
Loan Type
Loan Limit
Down Payment
USDA
$285,000
0%
FHA
$356,362
3.5%
Conventional Conforming
$548,250
3%
Options for USDA and FHA Loans in Mount-Carmel, IL
The core objective of Lendersa® is to secure the best USDA or FHA loan for you swiftly and without hassle. Start with one of three paths to find matching lenders and USDA loan programs.
A USDA home loan, often referred to as a USDA rural development loan or mortgage, is backed by the U.S. Department of Agriculture and is available exclusively in rural areas. Unlike FHA loans that impose a minimum down payment of 3.5%, USDA loans require no down payment, providing a significant benefit for eligible borrowers.
Crescent Mortgage Company was founded on February 16, 1993 as a wholesale lender for community banks in the Southeastern United States. On the first day of business, we faxed a hand written rate sheet to our first approved correspondents. By 10:00 AM the following morning we had received over $25,000,000 in loan locks,
Angel Oak Mortgage Solutions offers the nation’s most aggressive non-agency and specialized mortgage solutions. We work directly with brokers and correspondents specializing in non-conforming, non-agency products that offer consumers unique flexibility.We are bringing liquidity back into the underserved segment of the market.
XCEL Commercial Capital was formed in May 2010. It was formed as an offshoot of HomeStar Mortgage, Inc., which was incorporated May 1999. Over the last 11 years, we have originated many commercial loans stemming from requests from current and past customers, commercial real estate brokers, and other referral partnerships.
The Westmoore Group was formed to provide unique capital solutions for the real estate mortgage marketplace. We have the ability to offer all product types including residential mortgage loans to owner occupied borrowers who cannot qualify for conventional financing. We also lend to real estate investors and on commercial property.
We are mortgage professionals who started our careers in the industry at a Fortune 500 Company. We have been helping our clients achieve home ownership and manage their financing for over two decades in the great state of Michigan. We have brought over the focus of compliance, integrity, and privacy of a world class organization.
Parkway Federal Credit Union has been serving our membership since 1947. We are a full service financial institution with a friendly community approach.
Our credit union is a financial institution owned and controlled by it membership for their benefit that:
-delivers superior service in a friendly & courteous manner with respect for the wort
At Community Bank you are treated like a friend. Our success is measured by the relationships we build with our customers providing competitive banking products, the latest technology, and individualized hands-on service.We consider it a privilege to do business with our customers.
We offer Online Banking, Visa Credit Cards, Financial Education, Checking and Savings accounts, Secured and Unsecured Loans and Mortgages. We also offer Credit Builder education, Preparing for a Mortgage education and Business accounts. Holy Rosary Credit Union is a financial cooperative owned by all its members.
At Commerce Bank, we know life’s best moments can come with some financial complexity. Our job is to help people and businesses navigate challenges so they can get back to focusing on what matters most. We do this by getting to know our customers and communities and accepting their goals as our own to deliver the right financial solutions.
Bank Midwest is a leading community banking franchise, headquartered in Kansas City, Missouri. We serve clients throughout Missouri & Kansas by providing a comprehensive portfolio of products and services to meet the needs of commercial, consumer and small business clients. As we grow, our goal is to continue to deliver a superior level of service.
