Comparison Guide
FHA vs. Conventional Loan
Compare FHA and Conventional loans. See which mortgage type offers better rates, down payment requirements, and PMI costs for your situation.
The Verdict
FHA loans are ideal for first-time buyers with lower credit scores and smaller down payments. Conventional loans are better for buyers with good credit who want to avoid lifetime mortgage insurance.
FHA Loan Calculator
Open CalculatorMortgage Calculator
Open CalculatorMinimum Down Payment
FHA Loan Calculator3.5%
Mortgage Calculator3%
Minimum Credit Score
FHA Loan Calculator580 (typically)
Mortgage Calculator620
Mortgage Insurance (PMI)
FHA Loan CalculatorRequired for life of loan (usually)
Mortgage CalculatorCan be cancelled at 20% equity
Property Requirements
FHA Loan CalculatorStrict appraisal standards
Mortgage CalculatorStandard appraisal