The Pros and Cons of a Conventional 97 Loan
New homebuyers don't often have a large down payment. Is a Conventional 97 loan worth considering?
June 22, 2023 6 min read
New homebuyers don't often have a large down payment. Is a Conventional 97 loan worth considering?
Here's what you need to know when deciding between an FHA and Conventional 97 loan.
You want to sell your home fast. Will an FHA offer derail your plans if you accept? Let's find out.
New homebuyers can access an FHA or conventional loan with the same lender, but not always. Here's what to ask your lender.
FHA loans are a fantastic homebuying program. They allow many buyers with lower credit scores and incomes to buy a home. But are there downsides to these loans?
FHA often comes with lower mortgage rates than conventional loans -- sometimes much lower.
FHA MIP is better for borrowers with lower down payments, higher debt-to-income ratios, and lower credit scores. Conventional PMI is better for borrowers with larger down payments, lower debt-to-income ratios, and excellent credit scores.
Down payments are a big barrier to homeownership, but FHA allows a small down payment to help more people become homeowners.
FHA is much more lenient about debt-to-income ratios compared to conventional. You might qualify more easily than you think.
Most homes will meet both FHA and conventional property requirements, but here's what you should know about the differences between the two appraisal processes.
