How this quiz works
Conventional and FHA price risk differently. Conventional leans hard on credit score and down payment, but its PMI can be removed. FHA is more forgiving on credit and debt, but its mortgage insurance usually lasts for the life of the loan. The quiz weighs your score, down payment, debts, how long you'll keep the loan, and what you're buying.
Frequently asked questions
Is conventional always cheaper with good credit?
Usually, around 720 and above, especially if you'll keep the loan long enough for PMI to come off.
When does FHA win?
Lower scores, higher debt, and smaller down payments, especially below about 680.
What about HomeReady and Home Possible?
If your income is moderate, these conventional programs lower PMI and can beat FHA at fair credit.