Compare Mortgage Insurance

If the down payment on your home is less than 20% of the price of your home, your lender may suggest a few financing alternatives. Conventional loans with private mortgage insurance and FHA loans both allow for low down payments. If you have a very limited down payment (less than 3%) or a low credit score, an FHA loan may be the right choice. However, a loan with mortgage insurance provides significant benefits for borrowers. Compare your options using the chart below: