USDA Vs. FHA Pro and Con comparison in Swampscott, Essex County, MA
In the year 2025, the USDA loan limit for Swampscott in the county of Essex, MA, is $675,000. Conversely, the FHA loan limit for a single-family home is set at $828,000.
Lendersa® provides a USDA loan calculator that allows you to compare the current rates between USDA and FHA loans. It also helps ascertain the qualifications needed concerning income, credit score, reserves, and necessary documentation. With our sophisticated mortgage calculator, you can view USDA, FHA, Conforming, and VA loan programs side by side, assisting you to choose the appropriate option in Alabama tailored to your financial needs.
Loan limits and down payment requirements for 2025 in Swampscott, county of Essex, MA
Loan Type
Loan Limit
Down Payment
USDA
$675,000
0%
FHA
$828,000
3.5%
Conventional Conforming
$828,000
3%
Exploring USDA and FHA loan options in Swampscott, MA
Lendersa® strives to facilitate the acquisition of the most advantageous USDA or FHA loan swiftly and with minimal inconvenience. You can initiate the process by selecting from three available methods that align with corresponding lenders and USDA loan offerings.
A USDA home loan is a government-backed loan by the Department of Agriculture, often referred to as a USDA rural development loan or USDA mortgage, available exclusively in rural areas. In contrast to FHA loans that necessitate a minimum down payment of 3.5%, a USDA mortgage requires no down payment at all.
Winter Hill Bank is an independent, mutual, community bank that provides exceptional customer service and quality financial products. We are committed to providing value and the highest quality financial services to our depositors and borrowers and maintaining our role as a financial resource to our communities and surrounding market area
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Employees since 1941. Cabot Boston Credit Union (inc) is located in Boston, MA, United States."
Philly Hard Money Loans is an affiliate of Crowd Lending Inc. PHML is a Local Direct Hard Money Lender. PHML provides fast, flexible, and direct funding to investors, builders, and developers for investment real estate.PHML directly funds the acquisition and renovation of investment real estate.
First Priority Credit Union is a Massachusetts state-chartered credit union that began providing banking products and services to members in 1924. FPCU membership originally included United States Postal Employees, retirees and their family, but over the years has grown to include those that live or work in Suffolk and Essex Counties
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Naveo is a local not-for-profit community financial institution focused on serving its members/owners. Our mission is to assist our members with their financial needs by providing them with products and services they need in a friendly, inviting environment. As stated in our motto of “Saving Together to Lend to Each Other, ” we take member deposits
MassHome Mortgage LLC is a mortgage broker who has been helping customers in Massachusetts since 1999 to obtain residential
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customers and help them to find the right loan with the best rates, terms and costs to
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Mass Bay Credit Union serves over 18, 000 Members, manages over $220 million in assets, and operates under the Credit Union ideal of "People Helping People." We are 100% committed to providing our Members with the best banking value, products and services available, with state-of-the-art technology and unparalleled access
