The Mortgage Professor: Conventional versus FHA: Which should you choose?

SOURCE: Mortgage News Feed

Choosing between a conventional and Federal Housing Authority-backed mortgage is not an academic question. My calculations show that the wrong choice can cost as much as $33,000 over 15 years on a $200,000 loan, and as much as $66,000 on a $400,000 loan. Don't jump to the conclusion that the better choice is the mortgage with the lower interest rate.

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About The Author
Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.

 


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