Zillow Advice: Mortgage Types - Get screwed less?!? FHA or Conventional http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ Zillow Advice | Zillow Real Estate There is no good reason to ... http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ <p>There is no good reason to do FHA if you can qualify for conventional. Sounds like you are talking to the wrong source about a conventional mortgage. Compare APR and the FHA loan will not look so hot... FHA has a guarantee fee that makes it expensive</p> Thu, 04 Jul 2013 20:49:00 GMT http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ 2013-07-04T20:49:00Z "Get screwed less?!?"- Amanda ... http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ <em>"Get screwed less?!?"</em><br/>- Amanda Wright<br/>====================================================<br/><em>"Thanks a lot but you should consider keeping your negativity to yourself next time."</em><br/>-Amanda Wright<br/><br/>Good Advice.....<br/> Fri, 05 Jul 2013 01:27:00 GMT http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ 2013-07-05T01:27:00Z Amanda--- Conventional is ... http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ Amanda--- Conventional is probably better because you don't have to pay the PMI.&nbsp; However, the FHA rate is assumable when you go to sell it.&nbsp; If rates continue to rise...when you go to sell your mortgage, that would be a great selling point.<br/><br/>Good Luck! Fri, 05 Jul 2013 00:00:00 GMT http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ 2013-07-05T00:00:00Z Thank you everyone for your ... http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ Thank you everyone for your reply!&nbsp; I really appreciate the second opinions.&nbsp;&nbsp; I am definitely going to choose the conventional loan.<br/><br/>@800lbs in the room....just trying to pick a snappy title for my question.&nbsp; Its not that serious but there always has to be someone snarky in the group&nbsp;right?!&nbsp; Thanks a lot but you should consider keeping your negativity to yourself next time. Thu, 04 Jul 2013 23:46:00 GMT http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ 2013-07-04T23:46:00Z My first question would be ... http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ My first question would be why a 1% higher rate for the conventional loan. Depending on your credit, there are 3% down conventional loans out there. Thu, 04 Jul 2013 16:44:00 GMT http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ 2013-07-04T16:44:00Z I'm telling all of my clients ... http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ I'm telling all of my clients to go conventional if they can come up with the 5% down. FHA's mortgage insurance is simply too costly if it can be avoided. Not sure why your rate would be a full point higher with conventional unless your score is pretty low. You may want to see what you can do to bring it up. Thu, 04 Jul 2013 16:22:00 GMT http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ 2013-07-04T16:22:00Z Amanda,Based on your title, ... http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ Amanda,<br/>Based on your title, you view getting a bank to lend you more money than you have any hope of paying back within a reasonable amount of time (short of a windfall) with a ridiculously low interest rate as getting "Screwed". The best way to "Get Screwed Less" is to pay cash for your home. Based on your mentality, I will assume this in not an option. <br/><br/>My advice: Be grateful you can even buy a home with menial capital investment, let alone a second home....... Thu, 04 Jul 2013 16:12:00 GMT http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ 2013-07-04T16:12:00Z With FHA increasing their ... http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ With FHA increasing their MIP charges, this type of loan has become costly. If you can swing 5% down, I would recommend going with a Conventional loan instead. When you compare them side-by-side, Conventional generally wins out. Thu, 04 Jul 2013 13:46:00 GMT http://www.zillow.com/advice-thread/Get-screwed-less-FHA-or-Conventional/500299/ 2013-07-04T13:46:00Z