{"id":96,"date":"2022-09-28T04:37:18","date_gmt":"2022-09-28T04:37:18","guid":{"rendered":"https:\/\/www.privamortgage.com\/blog\/?p=96"},"modified":"2023-09-14T06:37:37","modified_gmt":"2023-09-14T06:37:37","slug":"how-are-fha-and-conventional-loans-different","status":"publish","type":"post","link":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/","title":{"rendered":"How are FHA and Conventional Loans Different?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">When looking for a mortgage, you\u2019ll have many options, including FHA and conventional loans. Determining which option is right for you when comparing <strong>FHA vs. conventional loans<\/strong> is important.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your mortgage payment is a large obligation, and a house is a big investment. So here\u2019s what to think about before borrowing a mortgage.<\/span><\/p>\n<h2><b>Overview of FHA Loans Vs. Conventional Loans<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">All <a href=\"https:\/\/www.privamortgage.com\/home-loans\">mortgage loans<\/a> are money lent to you to buy a home. The type of mortgage you qualify for depends on your credit score, debt-to-income ratio, and down payment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The better your qualifying factors are, the better the loan terms you\u2019ll get. <strong>For example<\/strong>, borrowers with great credit and a low debt-to-income ratio usually qualify for conventional financing. This is a non-government-backed loan with great terms and competitive interest rates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019ve suffered financial troubles or have a high debt-to-income ratio, you may need an <strong>FHA <\/strong>government-backed loan with more flexible guidelines.<\/span><\/p>\n<p><strong>Also Read<\/strong>: <a href=\"https:\/\/www.privamortgage.com\/blog\/types-of-mortgage-lenders-and-how-to-select\/\">Types of Mortgage Loans<\/a><\/p>\n<h2><b>What Is An FHA Loan?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The FHA guarantees FHA loans. They guarantee lenders that they will pay them back a portion of the funds they lose if a borrower defaults.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The FHA has specific requirements for each loan to qualify as an FHA loan. As long as FHA-approved lenders ensure each loan meets those guidelines, the FHA will guarantee the loan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Getting approved for an FHA loan is easier because the guidelines are more relaxed than conventional loan guidelines.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The FHA requires the following guidelines when qualifying for an FHA loan:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Minimum 580 credit score<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Maximum 43% debt-to-income ratio<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Minimum 3.5% down payment<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Income and employment stability for the last two years<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Proof of income with paystubs, W-2s, and\/or tax returns<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Proof of assets for the down payment and closing costs<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Proof you\u2019ll live in the home as your primary home<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Each FHA lender can add to these guidelines if they wish, but all <strong>FHA loans<\/strong> must meet these guidelines at a minimum.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All FHA loans require mortgage insurance for the life of the loan. Borrowers are responsible for the insurance premiums for as long as they have the FHA loan. This adds to the mortgage payment on an FHA loan.<\/span><\/p>\n<h2><b>What Is A Conventional Loan?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">A <strong>conventional loan<\/strong> isn\u2019t backed by any government agencies. Lenders take the risk when lending you funds. They have tougher underwriting requirements to compensate for the risk to ensure you won\u2019t default.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Like <strong>FHA loans<\/strong>, conventional loans require insurance to protect them if you default. However, they only require it if you put down less than 20% on the home. Even if you have to pay mortgage insurance when you borrow the funds, you can request cancellation of the PMI when you owe less than 80% of the home\u2019s value.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lenders require the following for conventional loans:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Minimum 620 credit score<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Maximum 36% debt-to-income ratio<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Income and employment stability for the last two years<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Minimum 5% down payment<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Proof of income with paystubs, W-2s, and\/or tax returns<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 <\/span><span style=\"font-weight: 400;\">Proof of assets for the down payment and closing costs<\/span><\/li>\n<\/ul>\n<h2><b>How to Compare FHA vs. Conventional Loans<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">First, consider your credit scores. Do you have the credit score to qualify for a conventional loan? Then, ask each lender you\u2019re interested in applying to what credit score they require.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you meet the credit score requirement, next consider the debt-to-income ratio. Conventional loans require a 36% debt-to-income ratio, but some lenders allow a slightly higher DTI if you have other compensating factors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Next, consider the down payment. <strong>FHA loans<\/strong> require at least 3.5% down, and conventional require at least 5% down.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s an easy decision if you don\u2019t have the 5% to put down but remember that most lenders allow you to use gift funds for the down payment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, consider where you\u2019re buying the home for your own use or an investment. <strong>FHA loans<\/strong> are only for your main home. You can\u2019t use the loan to purchase a vacation home or investment property.<\/span><\/p>\n<h2><b>Which Loan is Best for You?<\/b><\/h2>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-99 size-full\" src=\"https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-vs-Conventional-Loans-1.png?resize=800%2C400&#038;ssl=1\" alt=\"key differences between FHA Loans vs. Conventional Loans\" width=\"800\" height=\"400\" srcset=\"https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-vs-Conventional-Loans-1.png?w=800&amp;ssl=1 800w, https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-vs-Conventional-Loans-1.png?resize=300%2C150&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-vs-Conventional-Loans-1.png?resize=768%2C384&amp;ssl=1 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">You have a few things to consider when considering an <strong>FHA loan and a conventional loan<\/strong>. <\/span><span style=\"font-weight: 400;\">If you qualify for both loans, most people choose the conventional loan. However, the FHA loan may be better if you\u2019d rather take advantage of the smaller down payment requirements and keep more money on hand for emergencies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Next, compare the payments. FHA loans will include mortgage insurance. Conventional loans will only include it if you put less than 20% down on the home. The rates will likely be competitive, but compare them anyway.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, think about how long you\u2019ll own the home. If it\u2019s a temporary purchase, you might take the FHA loan since it requires a <a href=\"https:\/\/www.privamortgage.com\/lower-payment\">lower down payment<\/a>. You won\u2019t live in the house long enough to worry about paying mortgage insurance for too long, and you can use the capital for other investments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, if this is your \u2018forever home,\u2019 you\u2019ll likely want to keep the payments as low as possible. Making a larger down payment and avoiding <strong>mortgage insurance<\/strong> or having mortgage insurance you can cancel in a few years makes the most sense.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, some people don\u2019t have a choice. They don\u2019t have the credit to qualify for a <strong>conventional loan<\/strong>, or their debt-to-income ratio is too high. If that sounds like you, take the <strong>FHA loan<\/strong> now and consider refinancing into a <strong>conventional loan<\/strong> when you qualify.<\/span><\/p>\n<h2><b>Final Thoughts<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">When comparing <strong>FHA vs. conventional loans<\/strong>, you have a lot to consider. First, look at the total cost of both loans and decide which makes the most financial sense. For example, suppose you choose an <strong>FHA loan<\/strong> but want to eliminate mortgage insurance in the future. In that case, you can refinance into a conventional loan if your credit score and debt-to-income ratio qualify. Of course, it often makes the most sense if you are eligible for a <a href=\"https:\/\/privamortgage.com\/home-loans#Conventional-loans\">conventional loan<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When looking for a mortgage, you\u2019ll have many options, including FHA and conventional loans. Determining which option is right for you when comparing FHA vs. conventional loans is important. Your mortgage payment is a large obligation, and a house is a big investment. So here\u2019s what to think about before borrowing a mortgage. Overview of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":97,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14],"tags":[24,26,22,28,21,23,25,27],"class_list":["post-96","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage","tag-conventional-loan-requirements","tag-conventional-loan-vs-fha-loan","tag-conventional-loans","tag-conventional-mortgage","tag-fha-and-conventional-loans","tag-fha-loan","tag-fha-vs-conventional-loan-pros-and-cons","tag-mortgage-insurance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How are FHA and Conventional Loans Different?<\/title>\n<meta name=\"description\" content=\"Know the key differences between FHA and conventional loans when choosing a mortgage. Decide the best home loan options that are available.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How are FHA and Conventional Loans Different?\" \/>\n<meta property=\"og:description\" content=\"Know the key differences between FHA and conventional loans when choosing a mortgage. Decide the best home loan options that are available.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/\" \/>\n<meta property=\"og:site_name\" content=\"Priva Mortgage - Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/privamortgage\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-28T04:37:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-14T06:37:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-and-Conventional-Loans.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"privablogadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"privablogadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/\"},\"author\":{\"name\":\"privablogadmin\",\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/#\\\/schema\\\/person\\\/37ae62d11395b7dd30a8077add625c0f\"},\"headline\":\"How are FHA and Conventional Loans Different?\",\"datePublished\":\"2022-09-28T04:37:18+00:00\",\"dateModified\":\"2023-09-14T06:37:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/\"},\"wordCount\":990,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/www.privamortgage.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/FHA-and-Conventional-Loans.png?fit=800%2C400&ssl=1\",\"keywords\":[\"Conventional loan requirements\",\"Conventional Loan vs FHA Loan\",\"conventional loans\",\"Conventional mortgage\",\"FHA and Conventional Loans\",\"FHA loan\",\"FHA vs Conventional loan Pros and Cons\",\"Mortgage insurance\"],\"articleSection\":[\"Mortgage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/\",\"url\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/\",\"name\":\"How are FHA and Conventional Loans Different?\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/www.privamortgage.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/FHA-and-Conventional-Loans.png?fit=800%2C400&ssl=1\",\"datePublished\":\"2022-09-28T04:37:18+00:00\",\"dateModified\":\"2023-09-14T06:37:37+00:00\",\"description\":\"Know the key differences between FHA and conventional loans when choosing a mortgage. Decide the best home loan options that are available.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/#primaryimage\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/www.privamortgage.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/FHA-and-Conventional-Loans.png?fit=800%2C400&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/www.privamortgage.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/FHA-and-Conventional-Loans.png?fit=800%2C400&ssl=1\",\"width\":800,\"height\":400,\"caption\":\"FHA loan vs Conventional Loan\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/how-are-fha-and-conventional-loans-different\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How are FHA and Conventional Loans Different?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/\",\"name\":\"Priva Mortgage - Blog\",\"description\":\"Home Buyer Tips\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/#organization\",\"name\":\"Priva Mortgage\",\"url\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/www.privamortgage.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/priva-mortgage-logo.png?fit=144%2C98&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/www.privamortgage.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/priva-mortgage-logo.png?fit=144%2C98&ssl=1\",\"width\":144,\"height\":98,\"caption\":\"Priva Mortgage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/privamortgage\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/priva-mortgage\",\"https:\\\/\\\/www.instagram.com\\\/privamortgage\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/#\\\/schema\\\/person\\\/37ae62d11395b7dd30a8077add625c0f\",\"name\":\"privablogadmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/52240523982c04971852f5f5bc958619359cb33046b92d002805603f11f22663?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/52240523982c04971852f5f5bc958619359cb33046b92d002805603f11f22663?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/52240523982c04971852f5f5bc958619359cb33046b92d002805603f11f22663?s=96&d=mm&r=g\",\"caption\":\"privablogadmin\"},\"sameAs\":[\"https:\\\/\\\/privamortgage.com\\\/blog\"],\"url\":\"https:\\\/\\\/www.privamortgage.com\\\/blog\\\/author\\\/privablogadmin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How are FHA and Conventional Loans Different?","description":"Know the key differences between FHA and conventional loans when choosing a mortgage. Decide the best home loan options that are available.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/","og_locale":"en_US","og_type":"article","og_title":"How are FHA and Conventional Loans Different?","og_description":"Know the key differences between FHA and conventional loans when choosing a mortgage. Decide the best home loan options that are available.","og_url":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/","og_site_name":"Priva Mortgage - Blog","article_publisher":"https:\/\/www.facebook.com\/privamortgage","article_published_time":"2022-09-28T04:37:18+00:00","article_modified_time":"2023-09-14T06:37:37+00:00","og_image":[{"width":800,"height":400,"url":"https:\/\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-and-Conventional-Loans.png","type":"image\/png"}],"author":"privablogadmin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"privablogadmin","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/#article","isPartOf":{"@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/"},"author":{"name":"privablogadmin","@id":"https:\/\/www.privamortgage.com\/blog\/#\/schema\/person\/37ae62d11395b7dd30a8077add625c0f"},"headline":"How are FHA and Conventional Loans Different?","datePublished":"2022-09-28T04:37:18+00:00","dateModified":"2023-09-14T06:37:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/"},"wordCount":990,"commentCount":0,"publisher":{"@id":"https:\/\/www.privamortgage.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-and-Conventional-Loans.png?fit=800%2C400&ssl=1","keywords":["Conventional loan requirements","Conventional Loan vs FHA Loan","conventional loans","Conventional mortgage","FHA and Conventional Loans","FHA loan","FHA vs Conventional loan Pros and Cons","Mortgage insurance"],"articleSection":["Mortgage"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/","url":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/","name":"How are FHA and Conventional Loans Different?","isPartOf":{"@id":"https:\/\/www.privamortgage.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/#primaryimage"},"image":{"@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-and-Conventional-Loans.png?fit=800%2C400&ssl=1","datePublished":"2022-09-28T04:37:18+00:00","dateModified":"2023-09-14T06:37:37+00:00","description":"Know the key differences between FHA and conventional loans when choosing a mortgage. Decide the best home loan options that are available.","breadcrumb":{"@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/#primaryimage","url":"https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-and-Conventional-Loans.png?fit=800%2C400&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-and-Conventional-Loans.png?fit=800%2C400&ssl=1","width":800,"height":400,"caption":"FHA loan vs Conventional Loan"},{"@type":"BreadcrumbList","@id":"https:\/\/www.privamortgage.com\/blog\/how-are-fha-and-conventional-loans-different\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.privamortgage.com\/blog\/"},{"@type":"ListItem","position":2,"name":"How are FHA and Conventional Loans Different?"}]},{"@type":"WebSite","@id":"https:\/\/www.privamortgage.com\/blog\/#website","url":"https:\/\/www.privamortgage.com\/blog\/","name":"Priva Mortgage - Blog","description":"Home Buyer Tips","publisher":{"@id":"https:\/\/www.privamortgage.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.privamortgage.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.privamortgage.com\/blog\/#organization","name":"Priva Mortgage","url":"https:\/\/www.privamortgage.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.privamortgage.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/priva-mortgage-logo.png?fit=144%2C98&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/priva-mortgage-logo.png?fit=144%2C98&ssl=1","width":144,"height":98,"caption":"Priva Mortgage"},"image":{"@id":"https:\/\/www.privamortgage.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/privamortgage","https:\/\/www.linkedin.com\/company\/priva-mortgage","https:\/\/www.instagram.com\/privamortgage"]},{"@type":"Person","@id":"https:\/\/www.privamortgage.com\/blog\/#\/schema\/person\/37ae62d11395b7dd30a8077add625c0f","name":"privablogadmin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/52240523982c04971852f5f5bc958619359cb33046b92d002805603f11f22663?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/52240523982c04971852f5f5bc958619359cb33046b92d002805603f11f22663?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/52240523982c04971852f5f5bc958619359cb33046b92d002805603f11f22663?s=96&d=mm&r=g","caption":"privablogadmin"},"sameAs":["https:\/\/privamortgage.com\/blog"],"url":"https:\/\/www.privamortgage.com\/blog\/author\/privablogadmin\/"}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.privamortgage.com\/blog\/wp-content\/uploads\/2022\/09\/FHA-and-Conventional-Loans.png?fit=800%2C400&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/posts\/96","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/comments?post=96"}],"version-history":[{"count":4,"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/posts\/96\/revisions"}],"predecessor-version":[{"id":291,"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/posts\/96\/revisions\/291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/media\/97"}],"wp:attachment":[{"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/media?parent=96"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/categories?post=96"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.privamortgage.com\/blog\/wp-json\/wp\/v2\/tags?post=96"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}