As of 2026, the USDA loan limit in Park-Rapids, Hubbard county, MN, is $285,000. Meanwhile, the FHA limit for a single-family home is $356,362.
Utilize the Lendersa® USDA loan calculator to compare current USDA vs. FHA rates, determining necessary income, credit, reserves, and documentation for qualification. Our advanced mortgage calculator displays USDA, FHA, Conforming, and VA options side by side to assist in choosing the best program for your financial scenario in .
2026 Loan Limits and Down Payment Requirements in Park-Rapids, Hubbard, MN
Loan Type
Loan Limit
Down Payment
USDA
$285,000
0%
FHA
$356,362
3.5%
Conventional Conforming
$548,250
3%
Options for USDA and FHA Loans in Park-Rapids, MN
Lendersa®'s goal is to quickly secure you the best USDA or FHA loan without hassle. Choose one of three starting points to find matching lenders and USDA programs.
Guaranteed by the U.S. Department of Agriculture, USDA loans, also known as USDA rural development loans or mortgages, are available only in rural areas. Unlike FHA loans that need a minimum 3.5% down payment, USDA mortgages don't require any down payment.
Northwoods Bank of Minnesota has an interesting history. Chartered over a century ago in the small town of Dorset MN, the bank successfully navigated through the depths of the depression, the expansion years of the 1980’s and 1990’s, a charter re-location and name change, and most recently, the “great recession”.
On January 1, 1933, a group of dedicated community leaders began providing full service banking to the Park Rapids area when the doors were opened at the Citizens National Bank of Park Rapids. One of those involved in that achievement was Harold Bishop of Bishop's Department Store.
All loan decisions are made locally. The bank believes in personal service that starts with friendliness and a sincere desire to be helpful. Although their equipment and services are as advanced as any, the bank extends old-fashioned personal attention to its customers. The bank remains independent and family-owned and continues to grow.
Clearwater county was in its infancy in 1903 when Albert Kaiser, Sr, an already established businessman and banker, came to Bagley and helped organize First National Bank on Main Street.
On June 2, 1903, with their application for Charter approved, First National Bank opened its doors for business;
Midwest Minnesota Community Development Corporation
119 Graystone Plaza, Suite 100, Detroit Lakes, MN, 56501
Lends in Minnesota
MMCDC is a leading private nonprofit company providing commercial and home mortgage lending, as well as housing, business and community development services throughout Minnesota and the Midwest. We are also the parent company of a reservation-based bank and a reservation-focused community development company.
1135 Washington Ave, Suite 100, Detroit Lakes, MN, 56501
Lends in Minnesota
Principle Mortgage Group, Inc. is a wholesale Mortgage Broker committed to providing our clients with great customer service combined with great rates. Whether you are first time home buyer, purchasing your dream home, refinancing an outstanding loan, or consolidating debt, our highly experienced mortgage professionals
The First National Bank North has served local communities since 1902 and now serves several Minnesota Communities. At First National Bank North, we are invested in the growth and success of the Minnesota Communities we serve. As we continue to grow and provide the newest features to our customers, whether that be e-statements, mobile banking.
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
