Compare
Conventional is the flexible middle. FHA is built for smaller down payments. VA is a benefit for eligible service members and Veterans, with no monthly mortgage insurance.
| Conventional | FHA | VA | |
|---|---|---|---|
| Down payment | 3–20% | 3.5% typical | $0 eligible |
| Monthly MI | PMI under 20% | Annual MIP | None |
| Upfront fee | None required | UFMIP, often 1.75% | Funding fee unless exempt |
| Occupancy | Primary, second, or investment | Primary | Primary |
| Who it’s for | Most buyers | Credit or down payment rebuilding | Eligible Veterans and spouses |
Cells are typical, not a quote. Credit overlays and county limits still apply.
Questions
The one that fits the down payment, the credit, and whether you have VA eligibility. We compare payments in pre-approval.
Yes, with a refinance, if the numbers work then.
No. FHA and VA appraisals have extra condition rules.
We do not advertise that. Pricing is file-specific.
Not for a pure rental. You have to occupy.
We originate in Texas, Florida, Colorado, and California.
Reviewed by Patrick Crawford, NMLS #231625 · Last updated October 28, 2026