Choosing between FHA vs. Conventional loans is one of the most important decisions for Cincinnati homebuyers. Each program has specific advantages depending on your credit score and down payment savings.
Key Differences to Consider
- Credit Score: FHA is more lenient, often accepting scores down to 580, while Conventional usually requires 620+.
- Mortgage Insurance: FHA requires MIP for the life of the loan (usually), whereas Conventional PMI can be removed once you reach 20% equity.
- Property Standards: FHA appraisals have stricter safety requirements than Conventional appraisals.
Let CincyRefinance help you compare these programs side-by-side. Visit our homepage to get started.