In 2025, the USDA loan limit for a single-family home in New-Hope, situated within the county of Hennepin in MN, is set at $0. Conversely, the limit for an FHA loan is $402,500.
To effectively compare the current rates for USDA versus FHA loans, make use of the Lendersa® USDA loan calculator. This tool will help you understand necessary income levels, credit scores, reserves, and the documents needed to meet eligibility criteria. Our advanced mortgage calculator also lets you examine USDA, FHA, Conforming, and VA loans side by side, facilitating an informed choice for the most suitable program in that aligns with your unique financial needs.
2025 Loan Limits and Down Payment Requirements in New-Hope, County of Hennepin, MN
Loan Type
Loan Limit
Down Payment
USDA
$0
0%
FHA
$402,500
3.5%
Conventional Conforming
$548,250
3%
Exploring USDA and FHA Loan Programs in New-Hope, MN
Lendersa® aims to provide you with the ideal USDA or FHA loan swiftly and with minimal inconvenience. You can choose from three initial pathways to connect with matching lenders and explore various USDA loan offerings.
A USDA home loan, secured by the U.S. Department of Agriculture, is often referred to as a USDA rural development loan or USDA mortgage. These loans are solely accessible within rural areas. Unlike FHA loans, which mandate a minimum of 3.5% down payment, USDA mortgage loans require no down payment at all, making them an attractive option for eligible buyers in rural communities.
The USDA loan program is structured to advance the growth and development of rural regions by making homeownership more accessible to individuals and families. This initiative helps to remove financial obstacles related to home buying for those residing in or wishing to move to rural settings, thus playing a crucial role in enhancing the quality of life and economic prosperity within these areas.
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