FHA loans, government-backed, offer easier requirements ideal for low credit scores and small down payments. Conversely, conventional loans, without government insurance, require fair credit scores and possibly larger down payments.
FHA loans are insured by the Federal Housing Administration, appealing to buyers with financial constraints. Conventional loans are not government-backed and may have stricter credit score and down payment requirements.
#fha-loans #conventional-loans #home-financing #government-backed-mortgages #credit-score-requirements
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