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What is the difference between a conventional loan and an FHA loan?

April 26, 2017conventional FHA loan

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What is the difference between a conventional loan and an FHA loan?

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A conventional loan requires you to place a minimum down payment of 5% of the selling price of the home you want to buy. However, with loans insured by Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA), you can qualify for a mortgage with a smaller down payment, or even no money down.

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Posted

With loans insured by Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA), you can qualify for a mortgage with a 5% down payment, or even no money down.

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Posted

A conventional loan requires you to place a minimum downpayment of 5% of the selling price of the home you want to buy. However, with loans insured by Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA), you can qualify for a mortgage with a smaller downpayment, or even no money down.