What is the difference between FHA and conventional?

FHA allows lower credit (580) and 3.5% down with easier approval, but carries mortgage insurance for the life of the loan. Conventional needs 620-plus and ideally more down, but its PMI is removable at 20% equity.

Lower-credit or lower-down buyers often start with FHA; stronger-credit buyers usually save with conventional. We run both side by side so you see the real monthly and lifetime cost difference.

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