July 28, 2023
Buying
If you’re buying a home there’s a good chance you’ll need a mortgage to make a purchase. But not all mortgages are created equal. Depending on your situation — for example, your credit score and how much you have for a down payment or whether this is a primary or vacation home — you might have a variety of loan options available to you, including conventional loans and FHA loans.
But what, exactly, are the differences between the two, and how do you know which is the right loan for your home purchase?
A recent article from realtor.com outlined key things to know about FHA loans vs. conventional loans, and how to determine which is the best loan for you, including:
FHA loans and conventional loans both have advantages and disadvantages, so weigh the pros and cons, and decide which loan is best for you, considering your situation.
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