Federal Housing Administration (FHA) and conventional (or conforming) home loans have long been the most common mortgage options on the market. But which one is right for you? First, it’s important to clear up a major misconception that an FHA home loan is only for first-time homebuyers. While that’s a myth, it is true is that FHA loans have historically been more attractive to first-time homebuyers due to lower down payment requirements and interest rates. But as you’ll see, the differences between FHA and conventional…
