Question 1

Can I use FHA if I have good credit?

Accepted Answer

Yes, but you'll overpay on insurance. Conventional offers better rates and lower MI costs for 680+ credit scores.

Question 2

What credit score do I really need for conventional in Brentwood?

Accepted Answer

620 is the floor, but expect overlays. Most lenders want 640-660 for standard pricing and reasonable down payments.

Question 3

Does FHA mortgage insurance ever drop off?

Accepted Answer

Only if you put 10%+ down—then it drops after 11 years. Less than 10% down means it lasts the full loan term.

Question 4

Which loan type closes faster?

Accepted Answer

Conventional typically closes quicker. FHA requires an FHA appraisal with stricter property standards that can delay deals.

Question 5

Can I switch from FHA to conventional later?

Accepted Answer

Yes, refinance once you hit 20% equity and 620+ credit. You'll drop FHA insurance and likely lower your rate.

Conventional vs FHA Loans in Brentwood: Which Gets You Into Your Home?