Question 1

Can I switch from FHA to Conventional later?

Accepted Answer

Yes — once you have enough equity, you can refinance into a Conventional loan and drop mortgage insurance. Many Victorville buyers use FHA to get in, then refinance.

Question 2

Which loan has higher limits in San Bernardino County?

Accepted Answer

Both loan types have county-specific limits. Conventional conforming limits are set by FHFA annually. FHA limits are set separately — ask SRK CAPITAL for current figures.

Question 3

Does FHA require a home inspection?

Accepted Answer

FHA requires an appraisal that checks property condition — it's stricter than Conventional. Some Victorville homes in older condition may not pass FHA appraisal standards.

Question 4

Is the down payment requirement the same for both?

Accepted Answer

No. FHA allows 3.5% down at 580+. Conventional can go as low as 3% for some borrowers, but typically requires 5% or more for the best rates.

Question 5

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

Accepted Answer

Depends on the credit score. FHA is more forgiving. But if the credit is strong, Conventional at 3-5% down avoids lifetime mortgage insurance from day one.

Conventional vs FHA Loans in Victorville, CA