FHA vs Conventional Loans | Which is Right for You?
Compare FHA vs Conventional mortgage loans. See credit requirements, down payments, and which loan type is best for your situation.
Decision help
Choose FHA or conventional by total cost and fit
The better option depends on credit, down payment, mortgage insurance, property, occupancy, reserves, and how long you expect to keep the loan.
How do the insurance rules compare?
Compare upfront and ongoing mortgage insurance, cancellation rules, and the effect of each on cash-to-close and total cost.
Will the property qualify?
Review appraisal, condition, condo, occupancy, and loan-limit requirements before assuming a program works.
What does the same scenario cost?
Ask for matching loan amounts and assumptions so rate, payment, fees, and cash-to-close are comparable.
Next step: Ask for two written estimates with the same price, down payment, term, occupancy, and property assumptions.