USDA and FHA Pro and Con in New-Albany, Union County, MS
In 2026, within New-Albany, located in Union county, MS, the USDA loan limit is $285,000, whereas the FHA limit for a single-family home is $356,362.
Utilize the Lendersa® USDA loan calculator to compare today’s top USDA versus FHA rates and ascertain the necessary income, credit, reserves, and documents for qualification. With our advanced mortgage calculator, you can see USDA, FHA, Conforming, and VA loans side by side, assisting you in deciding which program in best fits your financial situation.
2026 Loan Limits and Down Payment Requirements in New-Albany, Union, MS
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 New-Albany, MS
The goal of Lendersa® is to secure you the best USDA or FHA loan promptly and without hassle. Choose one of three starting points that link you with suitable lenders and USDA loan programs.
A USDA home loan is guaranteed by the Department of Agriculture and is known as a USDA rural development loan or USDA mortgage. It is available only in rural areas. Unlike FHA loans requiring a minimum of 3.5% down payment, USDA loans require no down payment.
Bank of New Albany, BNA Bank is a state-chartered bank that has grown from a single location in downtown New Albany to 8 total locations. BNA Bank is one of the few ‘A’ rated banks by Weiss Bank Rating Services and was inducted into the Seifried and Brew Top 15th percentile of community banks.
For over 70 years, Farmers & Merchants Bank has been serving the communities of Northeast Mississippi. What started as the dream of a local group of businessmen in 1941 is truly a success story in the banking industry today.
Home owned and operated since 1941, Farmers & Merchants Bank prospers through a dedicated community.
Gum Tree Mortgage assists clients from all credit grades and secures mortgage loans in the states of Mississippi and Montana. We pride ourself on having unique products to fit the various needs of our clients. Contact Gum Tree Mortgage at 877-356-6528 to find out more about the products and services we can provide
Our vision is to be the financial services advisor and provider of choice in each community we serve. Our Mission is to To provide quality financial services and advice by: Understanding, then meeting the needs of our customers, Creating security and opportunity for our employees, Being good citizens in our communities.
FNB Oxford Bank has over 65 employees who are a crucial part of this community. Not only do they contribute to the economic well-being of Lafayette County by providing loans and other banking services, they also contribute to the quality of life in Oxford and Lafayette County through civic and charitable activities.
Mechanics Mortgage opened in December of 1996 to provide our community with specialized service in permanent residential financing. Our primary service areas are Oxford, Water Valley and the surrounding communities. We provide counseling and pre-qualification to those interested in purchasing or building a new home,
We are a private financial institution for members of our community and surrounding areas. We are a full-service federally insured bank. We provide a large selection of banking products and services, with options to meet every level of need. We offer checking and savings accounts; mortgage loans; personal loans; and small business loans.
Commerce Bank is a community bank providing friendly and personal service. We are an equal opportunity employer with 26 full-time employees, a convenient main office and more than $155 million in total assets as of December 31, 2021. Commerce Bank is the only locally owned and managed bank in Corinth, Mississippi and has more than 50 stockholders.
The Bank of Okolona is a hometown bank that has been serving Chickasaw County and the surrounding area for over 75 years. Whether it is a personal deposit account or a business loan that brings you to the Bank of Okolona, we can help. We hope this website and its contents will be helpful with your banking from home or the office.
