What Is an FHA Loan? – The Simple Dollar – Which should you go with, an FHA loan or conventional loan? There's really no right or wrong answer. There are pros and cons to taking either.
The main difference between FHA and conventional loan requirements is that the federal government insures mortgages with looser qualifying standards to make it possible for first-timers to achieve.
here are nine facts you’ll want to know about FHA loans. An FHA home loan allows a low down payment Conventional lenders usually require a 20% down payment; you can pay less but are then required to.
FHA vs. Conventional Loan 5% down (PMI, interest rate, approval. – I was pre-approved by Wells Fargo for an FHA loan at 3.5% but the more I read, the more I feel conventional at 5% would be the way to go.