Buying a home can be an exciting experience. Yet before you begin shopping for the perfect place to live, it’s a good idea to understand what type of mortgage you’ll use to finance your purchase—it can impact your potential interest rate, the minimum down payment, and more.
Two of the most popular home loan programs, especially for first-time homebuyers, are FHA loans and conventional loans. Both types of mortgages have benefits and drawbacks. So, if you’re trying to decide whether an FHA loan or a conventional loan makes the most sense for your financial situation, the following guide will help you compare these financing options.
