For most mortgage borrowers, there are three major loan types: conventional, FHA and VA. Here is how they compare. Who they’re for: Conventional mortgages are ideal for borrowers with good or.
What’s the difference between Conventional Loan and fha loan? homebuyers who intend to make a down payment of less than 10% of a home’s sale price should evaluate both FHA loans and conventional loans. An FHA loan is easier to acquire for those with low credit scores and requires as little as 3.5% for down payment.