In 2026, the USDA loan cap in Covington, situated in Covington county, VA stands at $336,500. Comparatively, the FHA limit is $472,030 for a solitary family residence.
Utilize the Lendersa® USDA loan calculator for an insightful comparison of today's USDA versus FHA premium rates. Gauge the requisite income, credit score, financial reserves, and documentation needed for qualification. Our sophisticated mortgage calculator showcases USDA, FHA, Conforming, and VA loan options in tandem, assisting you in deciding on the ideal program in , tailored to your specific financial circumstance.
2026 loan ceilings and down payment specifications in Covington, Covington county, VA
Loan Category
Loan Cap
Initial Payment
USDA
$336,500
0%
FHA
$472,030
3.5%
Conventional Conforming
$726,200
3%
USDA and FHA financing alternatives in Covington, VA
The mission of Lendersa® is to assist you in securing the finest USDA or FHA mortgage swiftly and effortlessly. Choose one of three initial steps that lead to connecting with lenders and USDA loan schemes.
A USDA home loan is sanctioned by the U.S. Department of Agriculture. Also known as the USDA rural development loan or USDA mortgage, it's restricted to rural zones. Unlike FHA which necessitates a minimum 3.5% down payment, USDA loans mandate none.
Highlands Community Bank (HCB) was established in 2002 by a group of local investors who determined there was a need for a community bank in the Alleghany Highlands. The belief was that a community bank could better serve the local residents and businesses and better contribute the local economy.
Jackson River Community Credit Union is a not-for-profit financial institution that is owned and operated by its members and promotes the credit union philosophy. We provide a full range of financial services at very competitive rates and useful information to help our members in all of their financial endeavors.
We believe working with our friends & neighbors means we can offer more personal,more individualized service than you might get elsewhere.The mortgage loan expert who begins the process with you will work with you all the way through closing. They’ll answer questions,openly sharing advice & helping through all the steps until your loan is approved.
Bank of Botetourt "Taking Care of You" is more than a slogan, it's our promise to the community. For over 120 years, Bank of Botetourt has been committed to reaching out within our local communities to do all we can to further the area's overall economic development. As a community partner, we make charitable contributions for education.
CornerStone Bank will be recognized as the best and most caring place to bank in each of the communities it serves. Our Mission is To deliver exceptional service every day & to demonstrate in every interaction with customers, shareholders, employees & the community, the things we value most: integrity, excellence, reputation & results.
Freedom First is a member-owned, federally insured community financial institution headquartered in Roanoke, VA since its founding in 1956. What sets us apart is that our shareholders are our members — which means that we put our community first. In fact, while most banks evaluate their worth by how much money they keep
Salem VA Credit Union is a member-owned cooperative that operates on a not-for-profit basis. As a federal credit union, we are chartered, supervised and insured by the federal government through the National Credit Union Administration (NCUA). The NCUA insures member share accounts up to $250, 000 per member.
KEMBA has been providing families financial security for well over seventy-five years. Since we're a non-profit financial institution, we return our profits back to our members in the form of better rates, lower fees, and free or low-cost services. We are run by a volunteer board of directors elected by members like you.
This credit union is a member-owned, democratically operated, not-for-profit organization managed by a board of directors, with the specified mission of meeting the credit & savings needs of consumers, especially persons of modest means. The purpose of this credit union is to promote thrift among its members by affording them an opportunity.
