Question 1

Can I switch from FHA to conventional later?

Accepted Answer

Yes — by refinancing once you have enough equity. Many borrowers use FHA to buy, then refinance into conventional to drop MIP.

Question 2

Which loan has lower monthly payments?

Accepted Answer

It depends on your down payment and credit score. Conventional wins long-term if you can cancel PMI. FHA costs more monthly when MIP is permanent.

Question 3

What's the minimum down payment for each?

Accepted Answer

FHA requires 3.5% with a 580 score. Conventional starts at 3% for some programs but typically 5% for standard approvals.

Question 4

Does FHA or conventional close faster?

Accepted Answer

Conventional loans often close faster. FHA appraisals have stricter property condition requirements that can slow the process.

Question 5

Are there loan limits in Kern County?

Accepted Answer

Yes. Both loan types have county-level limits. Kern County limits are set annually — ask us for the current figures before you shop.

Question 6

Which loan is better for a first-time buyer in Maricopa?

Accepted Answer

FHA if your credit is below 680 or your savings are limited. Conventional if your credit is strong and you want to avoid lifetime MIP.

Conventional vs FHA Loans in Maricopa, CA