Question 1

Can I switch from FHA to conventional later?

Accepted Answer

Yes. Once you have 20% equity and improved credit, refinancing into conventional removes FHA mortgage insurance entirely.

Question 2

Which loan has lower monthly payments?

Accepted Answer

It depends on your credit score and down payment. Conventional wins for strong-credit borrowers. FHA can be lower with marginal credit.

Question 3

Does FHA or conventional close faster?

Accepted Answer

Conventional typically closes faster. FHA requires an FHA appraisal with stricter property condition standards that can add time.

Question 4

What credit score do I need for conventional in Roseville?

Accepted Answer

Most lenders want at least 620. But 740+ is where you access the best rate tiers and avoid high PMI costs.

Question 5

Is FHA better for first-time buyers here?

Accepted Answer

Often, yes — especially with limited savings. But run both options. Sometimes conventional with 5% down beats FHA on total monthly cost.

Conventional vs FHA Loans in Roseville, CA