USDA Vs. FHA Pro and Con comparison in Elko-New-Market, Scott County, MN
In the year 2025, the USDA loan threshold for Elko-New-Market, located in the county of Scott, MN, stands at $322,000. In contrast, the FHA loan ceiling for a single-dwelling home is $402,500.
Explore the Lendersa® USDA loan calculator to contrast today’s finest USDA and FHA interest rates. Assess the necessary income, credit score, financial reserves, and required documentation to meet eligibility criteria. Take advantage of our sophisticated mortgage calculator to review USDA, FHA, Conforming, and VA loan options simultaneously, assisting you in selecting the most appropriate plan for your financial needs in .
In 2025, loan limits and downpayment criteria in Elko-New-Market, found in the county of Scott, MN
Loan Type
Loan Ceiling
Minimum Down Payment
USDA
$322,000
0%
FHA
$402,500
3.5%
Conventional Conforming
$548,250
3%
Exploring USDA and FHA loan choices in Elko-New-Market, MN
Lendersa® is committed to swiftly securing you either an optimal USDA loan or an FHA mortgage, with minimized complexity. Choose one of three options that align you with compatible lenders and USDA loan offerings.
A USDA home loan, endorsed by the Department of Agriculture, also known as the USDA rural development mortgage or USDA loan, is specifically accessible in rural locales. Unlike FHA loans requiring a 3.5% minimal down payment, USDA loans demand no down payment.
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