Question 1

Can I switch from FHA to conventional later?

Accepted Answer

Yes, refinancing to conventional once you hit 20% equity eliminates FHA mortgage insurance. Most borrowers do this after 5-7 years to cut monthly costs.

Question 2

Which loan closes faster in La Verne?

Accepted Answer

Both take 30-45 days typically. FHA appraisals sometimes add a few days because inspectors check more property details than conventional appraisals require.

Question 3

Do sellers in La Verne prefer conventional offers?

Accepted Answer

Many do, since conventional appraisals are less strict. FHA requires certain repairs before closing, which can delay or kill deals on older homes.

Question 4

What credit score do I really need for conventional?

Accepted Answer

620 gets you approved, but you'll pay high rates. Hit 740+ to access the best pricing and save substantially on interest.

Question 5

Is FHA mortgage insurance really that expensive?

Accepted Answer

It adds $150-250 monthly on a $500k loan. Over 30 years, that's $54k-90k you never recover unless you refinance out.

Conventional vs FHA Loans in La Verne: Which Mortgage Wins for You?