FHA vs Conventional Financing

Everybody knows that people can, sometimes, buy a house with cash, but in MOST cases buyers use a mortgage loan to buy Real Estate.  In the Memphis area, the 2 most commonly used loan types are FHA and Conventional.  While these are not the ONLY two options, they are simply the most used types here in our market. While both are great options for home buyers in any market, there are some instances where one is better, given the buyer's circumstances, than the other.  Check out the graphic included in this blog to see some of the most impacful differences between FHA and Conventional loans.