Is FHA Or Conventional Better For First-Time Homebuyers?
First-time homebuyers face challenges on the road to homeownership. Is FHA or conventional better to address them?
June 8, 2023 5 min read
First-time homebuyers face challenges on the road to homeownership. Is FHA or conventional better to address them?
Look beyond minimum credit score requirements for FHA and conventional loans to decide which one is best for you.
If you're unsure whether you can qualify to buy a home, you'll want to know which loan program -- FHA or conventional -- is easier to qualify for.
With so many loan types available, which one is best for your situation? The choice may not be as hard as you think.
It may cost you much less overall to get an FHA loan instead of conventional.
One of the first questions many homebuyers ask is whether they should get a conventional loan or an FHA loan. Here’s a look at qualification requirements for each loan type to help you decide.
Both FHA and conventional loans can help you buy a home. But which one is better for your situation?
FHA loan limits vary by county and range from $541,287 to $1,249,125 in 2026 for a single-family home within the continental United States.
PMI can help first-time buyers purchase a home even if they don't have a 20% down payment, but they have to know how to cancel it when it's time.
Private mortgage insurance, or PMI, is likely the least understood aspect of homebuying.
