USDA and FHA Pro and Con in Houghton, Houghton County, MI
In 2026, the USDA loan limit for Houghton in the county of Houghton, MI is set at $336,500, while the FHA limit for a single-family property is $472,030.
Utilize the Lendersa® USDA loan calculator to analyze and compare today's top USDA and FHA rates, as well as to establish the necessary income, credit, reserves, and documentation required for eligibility. Our advanced mortgage calculator displays USDA, FHA, Conforming, and VA loans side by side, aiding your decision on which program in best fits your specific financial needs.
2026 Loan Limits and Downpayment Requirements in Houghton, Houghton, MI
Loan Type
Loan Limit
Down Payment
USDA
$336,500
0%
FHA
$472,030
3.5%
Conventional Conforming
$726,200
3%
Options for USDA and FHA Loans in Houghton, MI
Lendersa® aims to offer you the best possible USDA or FHA loan swiftly and with little stress. Select one of three pathways to connect with lenders that match USDA loan programs suited to your needs.
The USDA home loan, also known as a USDA rural development loan or mortgage, is guaranteed by the Department of Agriculture. It's available exclusively in rural areas. Unlike FHA loans, which demand a minimum of 3.5% down payment, a USDA mortgage does not require any down payment.
The MTEFCU, was founded by employees of Michigan Tech University, which used to be the Michigan Mining School. The intention of the credit union was to provide employees access to loans with reasonable interest rates.Membership is open to anyone who lives, works, or conducts business in Houghton, Keweenaw, or Baraga Counties.
Superior National Bank opened in 1890. Headquartered in Hancock Michigan, Superior National Bank serves clients in the Upper Peninsula and Southeast Michigan regions and employs over 250 people. Superior National Bank provides individual consumers, businesses, municipalities and corporations with a full range of banking services spanning lending.
Mortgage loan subservicing is a highly demanding and regulated discipline – one that requires precise expertise for handling thousands of complex tasks. Today’s environment is not for the inexperienced, or those who are stuck in the status quo. That’s why lenders all over the country trust Midwest.
In the mid-1950s, a group of like-minded community members gathered with the foresight to see a need for an alternative way of “banking”. With this ambition, our founders created the Torch Lake Council #2713 Knights of Columbus Federal Credit Union - quite a mouthful! Our credit union was formally established on February 16, 1955
Baraga County Federal Credit Union has been open since 1952. The credit union has assets totaling $55.92 Million and provides banking services to more than 4, 000 members.
The credit union is a community-based financial institution. People living, working, or worshipping in the credit union's geographic area can become a member
Lake Superior Credit Union was established in 1959. Our mission is to insure the liquidity, stability, and growth of our Credit Union, so we will be here to serve our present and future membership and fulfill our vision and also Lake Superior Credit Union is here to provide financial services to Ontonagon County's residents and businesses.
Settlers Federal Credit Union was established in 1932 by a small group of local farmers who had a difficult time getting financing to plant their crops or feed their livestock. The beginning financial reports showed assets of $750.00. We continue to believe in serving our communities and providing financial services.
TruNorth Federal Credit Union has been open since 1949. The credit union has assets totaling $195.79 Million and provides banking services to more than 16, 000 members.
The credit union is a community-based financial institution. People living, working, or worshipping in the credit union's geographic area can become a member
The mission of The Miners State Bank is to remain an independent, well managed, community-oriented bank, serving customers in select markets with quality products and services that exceed their expectations. We are committed to providing a challenging work environment, thereby creating exceptional employee career opportunities.
