FHA Loans vs. Conventional Loans First-time buyers often prefer fha loans because the down payment requirements aren’t as stringent. But the Federal Housing Administration usually requires borrowers to pay a one-time upfront mortgage insurance premium (MIP) that’s 1.75% of the loan’s value.
You can refinance any type of loan with a conventional loan. With as little as 5% equity you can refinance. fha loans; usda mortgages; Alt-A loans; Subprime loans; option arms; adjustable rate mortgages; My appraisal shows a lower value that I expected. Can I still refinance with a conventional loan? Possibly. The refinance may require mortgage insurance.
Jumbo Versus Conventional Loan pros and cons of fha loan One of the most popular mortgage products nowadays is the FHA home loan. FHA, which stands for the Federal Housing Administration, is a United States government agency which insures home loans for FHA approved lenders. A frequently asked question from home buyers relates to the PROs and CONs of FHA home loans. Many home buyers today are asking.