FHA vs Conventional — Which Loan Gets You the Keys Faster?

Written By taylor ellard

If you’re buying your first home, you’ve probably heard “FHA” and “Conventional” thrown around like it’s common knowledge. Spoiler alert: it’s not 😅

Let’s break it down in plain English — and figure out which one actually helps you become a homeowner faster.

FHA Loan: The First-Time Buyer Favorite

  • Down payment: As low as 3.5%

  • Credit score: Flexible — even if it’s not perfect

  • Debt tolerance: FHA tends to be more forgiving

✅ Great for:

  • First-time buyers

  • Limited savings or lower credit

  • Those needing a little extra help getting started

⚠️ Heads up: You’ll pay mortgage insurance (MIP) monthly — but it’s what helps make the loan so accessible.

🔵 Conventional Loan: The Long Game Option

  • Down payment: As low as 3%

  • Credit score: 620+ usually needed

  • Bonus: Mortgage insurance can drop off once you hit 20% equity

✅ Great for:

  • Stronger credit

  • Planning to stay long-term

  • Want to avoid paying mortgage insurance forever

💡 The Real Question: Which One Gets You Home Faster?

If your goal is to get in the door now, FHA often wins because of its flexibility.
If your goal is to save long-term and you’ve got solid credit, Conventional could save you more down the road.

Both work — it just depends on your goals.

💬 Final Thought

There’s no “one-size-fits-all” loan — there’s just the right fit for you. That’s what I help buyers figure out every day.

Want help deciding which one fits your budget + goals?
Let’s go get you home 🏡 — apply today and let’s compare your options side by side.

taylor ellard
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