FHA vs. Conventional Loans: Pros, Cons and Differences
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Some buyers may believe that FHA loans are for first-time home buyers and conventional mortgages are for more established buyers. However, both types of loans have their advantages for any buyer, though qualification requirements differ.
FHA loans are insured by the Federal Housing Administration, and conventional mortgages aren't insured by a federal agency; instead, a lender assumes the risks associated with issuing the loan.
Here are the factors to weigh when considering an FHA loan versus a conventional loan.
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