Conventional vs FHA — Which Loan Is Better?
A side-by-side comparison of the two most common loan programs.
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Conventional loans usually win when your credit is strong (720+) and you can put down 5% or more, because your mortgage insurance is cheaper and drops off automatically at 78% loan-to-value.
FHA usually wins when your credit is in the mid-600s or you have limited savings — the base rate is often lower and guidelines are more forgiving on credit and debt-to-income.
Rule of thumb: get quoted on both, then compare monthly payment and 5-year total cost, not just rate.
Talk to a NEXA loan officer
This guide is written by Renato Rodic, a NEXA Lending loan officer. See the contact page to reach him about your specific scenario.