USDA and FHA Pro and Con in Madison, Somerset County, ME
In 2026, the USDA loan limit for Madison, Somerset county, ME is $336,500, whereas the FHA limit for a single-family home is $472,030.
Utilize Lendersa® USDA loan calculator to compare today's USDA vs. FHA rates, and to determine the income, credit, reserves, and documents needed to qualify. Our advanced mortgage calculator offers a side-by-side view of USDA, FHA, Conforming, and VA options, aiding your decision on the best program in for your financial situation.
2026 Loan Limits and Downpayment Requirements in Madison, Somerset, ME
Loan Type
Loan Limit
Down Payment
USDA
$336,500
0%
FHA
$472,030
3.5%
Conventional Conforming
$726,200
3%
USDA and FHA Loan Options in Madison, ME
Lendersa® strives to connect you with optimal USDA or FHA loans swiftly and effortlessly. Begin with one of three available paths to find matching lenders and USDA loan programs.
A USDA home loan, backed by the government Department of Agriculture, also referred to as a USDA rural development loan or mortgage, is reserved for rural areas. Unlike FHA loans requiring a minimum 3.5% down payment, USDA loans require no down payment at all.
Franklin-Somerset Federal Credit Union’s humble beginnings began as Bass Shoe Federal Credit Union with 8 members – six women & two men, each with a share of $5.00, on 1962. Since then, our charter has changed a bit & our field of membership grown. In the seventies, Bass Shoe Federal Credit Union became Wilton Community, then Franklin County FCU.
Every customer is treated with integrity and respect. When you walk through the doors of any of our 11 Maine branches, you can count on a highly personalized banking experience and an honest, forthright team of employees that are genuinely interested in meeting your individual needs.
Our Mission is To support our local community with valuable services, in a friendly atmosphere, with caring employees who are committed to upholding the credit union philosophy. Sebasticook Valley Federal Credit Union is Not for profit, not for charity, but for service. SVFCU expanded their field of membership to include all of Penobscot, Somerset.
Franklin Savings Bank is a community bank with locations in the Western Maine foothills and a Business Center in Ellsworth. We offer full-service, 24-hour bank that has been meeting the financial needs of our communities since 1868. Find out why everyone loves to Bank with Frank!
The 1950s were lean years in Maine. Seeing potentially no means of a savings plan within daily work boundaries, realizing finance companies were charging such high-interest rates, and knowing that Credit Unions were paying more on shares, the team of Gus Fortin, Henry Moses, and William Lynch approached Mr. Parsons of the Keyes Fibre Company.
New Dimensions FCU began in 1956 and was known then as Notre Dame Waterville Federal Credit Union. Our mission was simple – to provide excellent financial services to members of Notre Dame Church in Waterville. Our charter was comprised of members of the parish of Notre Dame Church and on August 27, 1956.
Maine Highlands Federal Credit Union is a proactive, member-owned cooperative whose purpose is to provide personal service & shared value, while maintaining its financial stability & integrity. Serving all of Piscataquis, Penobscot & Somerset counties, MHFCU is proud to offer members a variety of quality banking services.
As a cooperative, not-for-profit financial institution, we are able to offer lower rates on loans, higher dividend rates on your accounts, fewer fees, and more flexible and personalized financial services to our members than our larger, for-profit competitors. That means more of your hard-earned money stays in your pocket, and in our community.
Maine State Credit Union is devoted to improving our members' financial lives, not just the bottom line. From the CEO to the tellers in the lobby, we embrace this mission every day, in person, online, and over the phone. Membership means better service. That friendly greeting in the lobby is real.
