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FHA vs Conventional Calculator ⚖️
Unsure which mortgage program fits your credit score and down payment? Compare FHA (government-backed, flexible credit) against Conventional (flexible PMI removal) side-by-side.
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Higher credit scores significantly lower Conventional PMI.
Tax Rate (%)
Insurance ($/yr)
Flexible Credit & Down Payment
🏛️ FHA Loan
Great for lower credit scores or smaller down payments.
Down Payment (3.5%)$12,250
Interest Rate
Upfront MIP (1.75%)$5,911
Principal & Interest$2,116
Monthly MIP (Mortgage Ins)$155
Taxes & Hazard Insurance$475
Total FHA Monthly Payment
$2,746/mo
*FHA MIP lasts for the life of the loan unless you put 10%+ down or refinance.
Cancelable PMI & High Credit
🏡 Conventional Loan
Ideal for credit scores above 680+ and cancelable PMI at 20% equity.
Down Payment
$17,500Interest Rate
Est. Monthly PMI$180
Principal & Interest$2,157
Private Mortgage Insurance (PMI)$180
Taxes & Hazard Insurance$475
Total Conventional Monthly
$2,812/mo
*PMI automatically drops off once you reach 20% home equity!
FHA is currently $66/mo cheaper
Every scenario depends on your credit history, debt-to-income ratio, and long-term plans. Let's look at your actual scenario together!