When considering the type of loan you should apply for its important to consider the benefits and drawbacks of each type of loan.

Conventional Loans are well suited for homeowners who are not planning on moving in the next 5-7 years.  Because of the larger down payment required these loans first time home buyers may not find them as appealing.

FHA loans are better suited for someone homeowners who may be moving within the first 5-7 years.  These loans also require less of a down payment than a conventional loan.

No two situations are exactly alike.  Contact one of our loan officers today to discuss the pro’s and con’s of both types of loans for your particular situation.