Tag Archives: Conventional loan

Primer on the Difference Between an FHA Loan and a Regular “Conventional” Mortgage Loan

It is in every borrower’s best interest to understand the difference between a Conventional and an FHA loan, especially if they owe more than 80% of their home’s value or are interested in purchasing a home with less than 20% down payment. First FHA will allow a borrower who wants to refinance, or purchase a home, the opportunity to borrow up to 96.5% of their home’s value. This is also… Read More »

FHA Mortgage Loan versus Conventional Mortgage Refinance for Debt Consolidation

The term conventional loan includes loans under the current lending limits set by the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Fannie Mae and Freddie Mac, respectively. A Federal Housing Administration (FHA) loan is a loan based on an insurance program that enables you to buy a home with a down payment of as low as 3%. FHA is administered by… Read More »

What Are the Differences Between an FHA Home Loan and a Conventional Loan?

When you are looking at the different loans available to purchase or refinance, it can be confusing. Over the past year there have been many changes in the underwriting guidelines for all mortgages. FHA has become a very popular choice for many home buyers. Let’s take a look at the basic differences between an FHA loan and a conventional loan. FHA stands for Federal Housing Administration. FHA insures loans that… Read More »