Comparing FHA and Conventional

 

 

FHA vs. Conventional
  FHA Conventional
Down Payment Minimum 3.5% Minimum 5%+
Closing Costs Low, regulated by HUD Unknown/Vary greatly
Post-bankruptcy Qualifying? Can qualify after 2 years Can qualify after 2 years
Post-foreclosure Qualifying? Can qualify after 3 years Generally after 5 years
Private Mortgage Insurance Low cost Ranges from low to high cost
 
 

Refinance

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Purchase

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FHA loans

There are lots of good reasons to choose an FHA loan.
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