USDA and FHA Pro and Con in Lake-Carmel, Putnam County, NY
For 2025, the USDA loan ceiling in Lake-Carmel, situated in the county of Putnam, NY, stands at $657,900. In comparison, the FHA cap for a single-family home is $822,375.
Take advantage of the Lendersa® USDA loan calculator to evaluate the ideal USDA versus FHA rates available today, making it easy to establish what income, credit score, reserves, and paperwork are essential to meet the qualification criteria. Our cutting-edge mortgage calculator provides a side-by-side view of USDA, FHA, Conforming, and VA options, assisting you in selecting the most suitable program in based on your unique financial situation.
Current 2025 loan limits and down payment necessities in Lake-Carmel, county of Putnam, NY
Loan Variant
Loan Ceiling
Down Payment
USDA
$657,900
0%
FHA
$822,375
3.5%
Conventional Conforming
$822,375
3%
Options for both USDA and FHA loans in Lake-Carmel, NY
Lendersa® is dedicated to swiftly and efficiently securing you the best possible USDA or FHA loan, free from unnecessary complications. Begin by selecting one of three foundational steps that result in successfully pairing with compatible lenders and USDA loan offerings.
The USDA home loan, backed by the government's Department of Agriculture, frequently referred to as the USDA rural development loan or USDA mortgage, is exclusively available in rural areas. Unlike FHA loans, which impose a minimum down payment of 3.5%, the USDA mortgage doesn't require any upfront deposit, making it a desirable option for eligible applicants.
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In 1902, Fred and George Schaller started the Citizens Bank as a private banking business with deposits of $70, 000.00. Since that time the bank has remained locally owned and managed by the Schaller family through the currency crisis of 1907, the depression of the 1930's, the agricultural crisis of the 1980's and the financial crisis of 2008.
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