USDA and FHA Pro and Con in Richmond, Madison County, KY
For the year 2025 in Richmond, within the county of Madison, KY, the USDA loan limit is defined at $336,500. Comparatively, for an FHA loan, the limit for a single-family residence is set at $472,030.
Make use of the Lendersa® USDA loan calculator to compare today's best USDA and FHA rates. This tool helps you determine the necessary income, credit standing, reserves, and documents needed to qualify. With our advanced mortgage calculator, view USDA, FHA, Conforming, and VA loan options side by side, guiding you to decide which program in Alabama best suits your financial circumstances.
Understanding 2025 Loan Limits and Downpayment Requirements in Richmond, Madison, KY
Loan Type
Loan Limit
Down Payment
USDA
$336,500
0%
FHA
$472,030
3.5%
Conventional Conforming
$726,200
3%
Exploration of USDA and FHA Loan Options in Richmond, KY
The goal of Lendersa® is to secure the best possible USDA or FHA loan for you quickly and with little hassle. Begin with one of three starting points that match you to lenders and suitable USDA loan programs.
The USDA home loan, endorsed by the Department of Agriculture, is also known as a USDA rural development loan or USDA mortgage. It is exclusively available in rural neighborhoods, offering an opportunity for those eligible. Unlike FHA loans that require a minimum down payment of 3.5%, USDA loans do not require any down payment, making them an attractive option for eligible borrowers in rural areas.
Peoples Bank has been the bank of choice for generations of area residents. We are proud to be locally owned and operated. We remain committed to the community and will continue to serve our customers with the respect and appreciation they deserve and also Peoples Bank has been the bank of choice for generations of area residents.
The Citizens Bank of Morehead, Kentucky was organized September 25, 1928; original organizers being H. Vanantwerp, E. E. Maggard, C. E. Dillon, Squire Hogge and Frank Havens.
The Citizens Bank was opened for business on Railroad Street, now First Street; across from the old C&O Train Depot.
At Morehead Community Federal Credit Union our members are owners, joined by the belief that we are investing in each other. We offer full-service banking with the goal to help members build a better financial future & we’ve been doing that since 1978
Morehead Community Federal Credit Union is the premier credit union of the Rowan County commu
Frontier Housing was founded in 1974 by four churches, a holy cross brother, and a small group of volunteers led by our founder, Tom Carew. We were created to be a resource for eastern Kentuckians in need of housing opportunities. What began with a mission to repair or rebuild dilapidated, aged, and/or unsafe living conditions.
Hometown Bank. Here, it’s always been about making you happy. We figure if everyone who walks through our door is greeted with a warm welcome and receives really helpful service, they’ll be back for more. With so many banks these days, we thought service seemed to be getting pushed out.
Citizens Bank & Trust Co. was established in 1962 to provide the highest quality of banking services for the citizens of Breathitt and surrounding counties. As co-founder Circuit Judge Ervine Turner said, "A good bank dedicated to the service of the little man and his financial needs
Bank of the Mountains opened its doors in September 1973. As one of the few family-owned banks left in our state, we understand that relationships matter & strive daily to ensure that our customers are treated right.Nothing is more important to us than our customers feeling they have a partner they can depend on to accomplish their financial goals.
The First National Bank of Brooksville is located in Brooksville, KY, United States and is part of the Depository Credit Intermediation Industry We offer Real Estate Loans- Fixed and Variable
Auto Loans
Farming Expense Loans
Business Loans
Personal Loans
Home Equity Loans
Farm Operating Loans
Farm Purchase Loans.
Town & Country Bank and Trust Co., headquartered in Bardstown, KY, has been serving the Central Kentucky community for over 100 years. We are a locally owned and operated, full-service, community bank offering exceptional products and services to consumer and business customers. We also offer wealth management services through our Trust division.
Wilson & Muir Bank & Trust Company is dedicated to professional and reliable service, delivered with integrity, to fulfill the banking needs of its clients.
With our rich history and generations of experience, WMB continues to guide our clients toward their financial objectives.
"JPMortgage Company is committed to providing you with the best and lowest mortgage rates and closing costs available.
Our experienced JP Mortgage Company Professionals can help you make an informed, educated decision on your mortgage anywhere in the State of Kentucky or Indiana."
The Bank of Maysville was founded in 1835. As the Commonwealth of Kentucky’s oldest independent bank, our history serves as testimony that we are a community-minded financial institution dedicated to meeting the needs of our customers and the region we serve. The Bank of Maysville is the oldest independent bank in the Commonwealth of Kentucky.
