USDA and FHA Pro and Con in Melrose, Stearns County, MN
In 2026, the USDA loan limit in Melrose, located in the county of Stearns, MN, is $336,500, while the FHA limit for a single-family home is $472,030.
Utilize the Lendersa® USDA loan calculator to compare today's top USDA versus FHA rates, determining the necessary income, credit, reserves, and documents needed to qualify. Our advanced mortgage calculator allows you to view USDA, FHA, Conforming, and VA options side by side, helping you pick the best program for your financial situation in .
2026 Loan Limits and Downpayment Requirements in Melrose, Stearns, MN
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 Melrose, MN
Lendersa® aims to swiftly connect you with the best USDA or FHA loan options without hassle. Select one of three starting strategies that result in matching lenders and USDA loan programs suitable for your needs.
The USDA home loan is backed by the Department of Agriculture and is also referred to as a USDA rural development loan or USDA mortgage. These loans are available exclusively in rural areas. Unlike FHA loans that require at least a 3.5% down payment, USDA loans have no down payment requirement, making them particularly accessible for eligible borrowers.
Magnifi Financial is a member-owned financial services cooperative headquartered in Melrose, Minnesota. Magnifi offers a full array of financial products and services including consumer checking, savings, loans, mortgages, credit cards, internet and mobile banking, retirement and financial planning services as well as business accounts and loans.
Central Minnesota Credit Union was built from the ground up by its members since 1939. The credit union was chartered in Melrose under the philosophy of ‘people helping people’. Every member is an owner and dividends are returned through better rates on savings and loans and lower fees.
First State Bank of Sauk Centre operates as a bank. The Bank offers saving accounts, loans, debit, credit cards, insurance, investments, mortgages & online banking services. First State Bank of Sauk Centre serves clients in the State of MN. First State Bank of Sauk Centre has 25 total employees across all of its locations & generates $4.76 million.
Minnesota National Bank is a vibrant & growing community bank operating in the Sauk Centre, Long Prairie & Pelican Rapids markets. Like the fatherly advice you may have received once while sitting on the end of a dock, Minnesota National Bank prides itself in getting to know customers & providing advice to help you make better financial decisions.
Kensington Bank is a community bank with locations in Belgrade, Cokato, Elrosa, Herman, Kensington, Saint Cloud, and Willmar, MN. We strive to provide excellent service and growth along with our customers.
To be a trusted partner in the financial success of our customers one relationship at a time and give back to the communities we serve.
At One Mortgage LLC, our team is committed to providing our clients with the highest quality financial services combined with the lowest rates available in your area. Our outstanding mortgage professionals will work with you one on one to ensure that you get a financial solution that is tailored specifically to meet your financing needs.
The First State Bank of Swanville was chartered on June 17, 1907. The name remains the same and has survived major economic challenges of the great depression and several wars. We have emerged from those challenges and 100 years later we continue in that tradition as we remain financially strong and family owned and operated.
Since 1904 we have seen the Great Depression, the Great Recssion and two world wars. We have had 19 different presidents, including 11 republicans and 8 democrats and added 5 states to the union. We've moved from silver certificates to Federal Reserve Notes and done away with the gold standard.
Mortgages on Main has been providing financing to Central Minnesota clients for nearly a quarter century, and we’re proud to be rooted amongst the people who call this area home. With a simple phone call to our office, you’ll be on your way to discovering financial solutions to all of your mortgage needs.
