Dreaming about your first home purchase but still be undecided on whether to choose an FHA loan or conventional loan? While both are popular choices for those looking for a low down payment, some differences may make one loan a better option than the other. 

This article will give you an idea of how they differ and give you insight as to which loan may work best in your situation.

What is an FHA loan?

An FHA loan is insured by the Federal Housing Administration. Lenient qualifications make it a good choice for those with lower credit scores and those with limited funds for the down payment. 

What is a Conventional loan?

On the other hand, conventional loans are not insured by a government agency and have qualifying terms set by

Veterans have benefits awarded exclusively to them for their dedication and service, including disability and education compensation, career training, health care, and even home loans. However, with federally-funded home loans, there is more than one option. When it comes down to it, what is the best – FHA loans or VA loans? This article will help you understand and make an informed decision on which loan is best for you. 

FHA Loans

An FHA loan is a US Federal Housing Administration mortgage insured by the government and provided by an FHA-approved lender. The requirements for FHA loans are not that hard to obtain, especially when it comes to the credit score. For example, some of the requirements for FHA are: 

• A credit score of 580 or