Question 1

Can I switch from FHA to conventional later?

Accepted Answer

Yes. Once you have enough equity, refinancing into conventional removes the FHA mortgage insurance. Many borrowers do this within a few years.

Question 2

Which loan is better for Dublin's prices?

Accepted Answer

Both programs have conforming and county-level limits. Confirm current Alameda County limits with us — they affect how much you can borrow on each.

Question 3

Does FHA hurt my offer in a bidding war?

Accepted Answer

It can. Some sellers worry FHA appraisals will flag property issues. A strong pre-approval letter and clean terms help offset that concern.

Question 4

What credit score do I need for conventional?

Accepted Answer

Most lenders want at least 620. Better rates kick in above 740, so your score has a direct impact on your monthly payment.

Question 5

How much do I need down for each loan?

Accepted Answer

FHA requires 3.5% with a 580+ score. Conventional can go as low as 3%, but below 20% means paying PMI monthly.

Question 6

Is FHA mortgage insurance permanent?

Accepted Answer

For most FHA loans, yes — unless you put down 10% or more, in which case it falls off after 11 years. Conventional PMI is not permanent.

Conventional vs FHA Loans in Dublin, CA