USDA and FHA Pro and Con in Wenham, Essex County, MA
For the year 2025, the USDA loan limit applicable in Wenham, situated within Essex county, in the state of MA, is determined to be $675,000. Conversely, the FHA loan limit stands at $828,000 specifically for a single-family residence.
Utilize the Lendersa® USDA loan calculator to effectively compare present-day rates between USDA and FHA loans. This tool aids in understanding the income, credit score, reserves, and document requirements for qualification. With the help of our comprehensive mortgage calculator, you can evaluate USDA, FHA, Conforming, and VA loans concurrently. This side-by-side comparison assists you in finding which program in most suitably aligns with your particular financial landscape.
Loan limitations and downpayment prerequisites for 2025 in Wenham, the county of Essex, MA
Loan Category
Loan Ceiling
Initial Payment
USDA
$675,000
0%
FHA
$828,000
3.5%
Conventional Conforming
$828,000
3%
Discover USDA and FHA loan paths in Wenham, MA
The mission of Lendersa® is to swiftly and effortlessly guide you to the optimal USDA or FHA loan options. Begin with one of three potential starting points which link you to matching lenders and the appropriate USDA loan programs.
A USDA loan is one that the government, specifically the Department of Agriculture, ensures. Also referred to as a USDA rural development loan or simply a USDA mortgage, it is primarily available in rural locations. Unlike its FHA counterpart which necessitates at least a 3.5% down payment, the USDA mortgage requires no down payment at all, facilitating zero upfront cost for borrowers.
A local, community bank is important to the area. All financial decisions are made by people who live and work in the community, understanding its needs. Originally located in the northern portion of the bowling alley building, the bank grew and a narrow addition was added to the north connecting it to the former Iverson garage building.
We are a residential home loan mortgage brokerage and our goal is to be your lender for life! Personal Consultation - We provide a personal consultation so that we can get to know you. We listen carefully to your needs and your goals so that we can use this information to best assist you.
Our mission is to serve our customers with honesty, integrity and competence. Our goal is to provide home loans to our clients while providing them with the lowest interest rates and closing costs possible. Furthermore, we pledge to help borrowers overcome roadblocks that can arise while securing a loan.
At Kohler Mortgage, we are committed to finding you the most competitive financing options, whether buying a home or refinancing a current loan. We have access to a variety of programs and will assist you in selecting the best financing options available. We work directly with wholesale lenders which offers us low wholesale rates passed
As a Florida-based bank, we are firmly rooted in our local communities. We believe a locally owned and managed bank better serves your needs, with decisions made locally by an experienced team of bankers and a board of directors steeped in Florida’s entrepreneurial spirit. We are committed to knowing you personally, understanding your needs and goa
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The mission of Solutions First Credit Union is to always provide value to all members. That value will include financial solutions for members needs and providing a level of service that is unmatched within our geographical footprint. We pledge to always look for alternative solutions that best meet the needs of each credit union member.
From our executives to the front-line staff members you interact with every day, all of our team members possess the knowledge to get the job done and the passion for serving. From helping you open an account or answering a question to providing financial advice, we’re always ready to assist any way we can.
