Question 1

Can I switch from FHA to conventional later?

Accepted Answer

Yes — refinancing into conventional once you have 20% equity removes mortgage insurance. That's a common exit strategy for FHA borrowers.

Question 2

Which loan has lower monthly payments in Upland?

Accepted Answer

It depends on your credit and down payment. Rates vary by borrower profile and market conditions — run both scenarios before deciding.

Question 3

Does FHA allow gift funds for the down payment?

Accepted Answer

Yes. FHA permits the full 3.5% down to come from a gift. Conventional loans also allow gifts but may require some of your own funds depending on the lender.

Question 4

What's the FHA loan limit in San Bernardino County?

Accepted Answer

FHA limits are set by county and updated annually. Contact us for the current San Bernardino County limit before assuming FHA covers your target price.

Question 5

Is conventional always better for higher credit scores?

Accepted Answer

Usually, yes. Above 740, conventional pricing is hard to beat. FHA's mortgage insurance costs often make it the pricier option at that credit tier.

Conventional vs FHA Loans in Upland, CA