Is it better to have an FHA or Conventional Loan?I have been approved for $200,000 for a home. I found one I liked for $217,000. I have 50,000 for a down payment. To be able to purchase the home at $217,000 my lender said I needed $3000 more down. I put in an offer for the $217,000 and I would pay all closing costs. Someone with an FHA loan made an offer higher than what the seller asked for. If they have an FHA Loan it's because they don't have much money. So I loose out and I have money. Should I get an FHA loan instead?April 06 2012 - Ontario00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.