USDA and FHA Pro and Con in Salem, Essex County, MA
During 2026, the USDA loan cap in Salem, Essex county, MA is $675,000, whereas the FHA limit for a single-family home is set at $828,000.
Use the Lendersa® USDA loan calculator to contrast the best USDA vs. FHA rates available today and to figure out the income, credit, reserves, and documentation needed to qualify. With our advanced calculator, you can view USDA, FHA, Conforming, and VA options side by side, aiding you in selecting the best program for your financial situation in .
2026 Loan Limits and Downpayment Requirements in Salem, Essex, MA
Loan Type
Loan Limit
Down payment
USDA
$675,000
0%
FHA
$828,000
3.5%
Conventional Conforming
$828,000
3%
USDA and FHA Loan Options in Salem, MA
The mission of Lendersa® is to secure the most suitable USDA or FHA loan swiftly, without any hassle. Choose from three starting points to connect with lenders and explore USDA loan programs.
The USDA home loan, also known as a USDA rural development loan or USDA mortgage, is guaranteed by the Department of Agriculture and exclusively available in rural areas. Unlike FHA loans, which require at least a 3.5% down payment, USDA loans need no down payment.
At Salem Five, we understand the importance of helping our communities. Through the Salem Five Charitable Foundation, we are committed and continue to support a variety of community organizations ensuring vibrant and viable futures for the people whom these critical organizations serve.Salem Five is owned & operated for the benefit of its customers
Founded in 1871, Marblehead Bank has been helping generations of families on the North Shore, grow and prosper. We help lead them to brighter and financially sound futures. Today, we’re one of North Shore’s finest banks. We hope to be given the opportunity to show you how much we care!
Clipper Commercial Capital, LLC is an advisory firm based in greater Boston, providing capital solutions for small and mid-size business nationwide. We work closely with a network of national bank and non-bank financial institutions to offer competitive rates, market knowledge, and specialized lending solutions.
Incorporated in April of 1831 as the Grand Bank, later renamed the National Grand Bank, we officially opened our doors on November 18, 1831. That day we recorded $1, 500 worth of deposits and started our commitment to providing the citizens and businesses of Marblehead with the best service and banking products available.
We have been in business since 1988 and have helped thousands of homeowners purchase their new home, refinance into a lower rate, or get cash for home improvements, investments, business, debt consolidation, and college. Call us and see what the Stepstone Advantage is all about. We will strive to find the right mortgage product for you.
The Lynn Teachers’ Credit Union has been in existence since 1935. We have consistently been available for the needs of our members and will continue to do so. We offer the convenience of payroll deduction for both savings and loans. We offer prompt, courteous service to all of our members and prospective members
The Peabody Municipal FCU is a nonprofit organization independent of the City of Peabody. Credit Union is owned and operated by its members to encourage savings and to provide funds for member needs at competitive rates. and also Peabody Municipal Federal Credit Union is dedicated to providing competitive financial products and superior service to
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Since 1910, we’ve offered an array of comprehensive and affordable banking programs to help individuals, families, and business owners reach their goals. Though we have grown over the years, we have remained true to our mission to fulfill the needs of our diverse membership with the utmost integrity and privacy
