USDA Vs. FHA your options comparison in Fergus-Falls, Otter Tail County, MN
In 2026, the USDA loan cap for Fergus-Falls in Otter Tail, MN, is $285,000. Meanwhile, the FHA limit for a single-family home is $356,362.
Utilize Lendersa®'s USDA loan calculator to effectively compare today's top USDA versus FHA rates and assess the income, credit, reserves, and documentation necessary for qualification. Our advanced mortgage calculator displays USDA, FHA, Conforming, and VA options side by side, aiding in selecting the best program for your financial situation in .
2026 Loan Limits and Down Payment Requirements in Fergus-Falls, County of Otter Tail, MN
Loan Type
Loan Limit
Down Payment
USDA
$285,000
0%
FHA
$356,362
3.5%
Conventional Conforming
$548,250
3%
USDA and FHA Loan Options in Fergus-Falls, MN
Lendersa® strives to provide the best USDA or FHA loan easily and without delay. Pick one of three initial steps that link you to matching lenders and USDA loan programs.
The USDA home loan, also known as the USDA rural development loan or mortgage, is guaranteed by the government Department of Agriculture and available solely in rural areas. Unlike FHA loans requiring at least a 3.5% down payment, USDA mortgages require no down payment, presenting a substantial advantage to eligible buyers.
Farmers State Bank is a locally owned, independent, community bank. We have four locations to better serve our customers. Our main office is located in Underwood, MN, and three branches are located in Dalton, Rothsay, and Fergus Falls, MN. Our officers, directors, and staff all live and work in our local communities.
With more than 100 years of banking history behind it, Vantage Bank brings a diverse wealth of experience to its customers. Now in two great locations and with 12 employees, Vantage Bank continues to provide personal customer service while modernizing aspects of the bank to benefit its customers’ needs.
At Dawson Home Mortgage we strive to give our customers competitive rates and offer a broad range of products giving you the top notch service you deserve.As a customer you will be treated as an individual and not just another number. We will walk you through every step of the way making sure your loan is processed on time.
Farmers & Merchants State Bank of New York Mills, Incorporated
11 Walker Avenue North Otter Tail, New York Mills, MN, 56567
Lends in Minnesota
Farmers & Merchants State Bank is a local bank serving our community’s financial needs with quality products and services. We are committed to exceeding our customers’ expectations with our friendly and professional staff. As a local, independent bank, we do not offer risky products and we pride ourselves on knowing our customers
The ASECU was organized on February 15, 1954, with 7 members. We currently have almost 1000 members. The board of directors and committee members meet monthly to review the general operations, set interest rates, and review agenda items The Credit Union has mailboxes at both the Alexandria Technical & Community College and Voyager School.
