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What is the difference between conventional and FHA loans?

April 26, 2017conventional difference FHA Loans

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What is the difference between conventional and FHA loans?

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There are many differences between conventional and FHA loans. In this portion we will outline some of the major differences for you. Contact an Supreme Lending representative for additional information on conventional and FHA loans. To give you an example, let us compare the difference between a Community Homebuyer loan (similar to FHA, but falls under the guidelines of a conventional product) and an FHA loan. * This example is using a purchase price of $100,000 on a 30 year fixed term. **Also, please see explanations below this illustration for detailed analysis.