When comparing conventional loan vs FHA down payment requirements, consider this checklist: Conventional loans typically require a higher down payment, often around 5% to 20%, depending on credit and lender guidelines. FHA loans usually have a lower minimum down payment, around 3.5%, making them more accessible for borrowers with less cash upfront.
Additionally, FHA loans require mortgage insurance premiums regardless of down payment size, while conventional loans may avoid this with a 20% down payment. Weigh these factors carefully to choose the best loan option for your financial situation.