The FHA vs conventional question involves examining your 1) credit score; 2) available down payment; 3) long-term goals. 1) Credit score:.
Why we got a conventional mortgage (without 20% down. – · Another perk is that you can get the mortgage insurance removed on a conventional loan. This is not possible with USDA or FHA loans anymore. Getting out of mortgage insurance with USDA or FHA loans requires a refinance, which means you’re at the mercy of the interest rates when you’re ready to refinance.