Loan Options • Compare

Compare loan programs

Conventional, FHA and VA loans can all help you buy a home, but they reward different strengths. See how down payment, credit, mortgage insurance and loan limits line up, then talk with a FLO loan officer about the best fit.

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★★★★★ 5.0 on Google from 160+ clients | Company NMLS #1835856

At a glance

Conventional: flexible terms, removable PMI
FHA: flexible credit guidelines
VA: $0 down for eligible borrowers
Side-by-side 2026 guidelines

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Compare loan programs

Conventional vs. FHA vs. VA loans

Tap a program to spotlight what makes it different, or pick what matters most to you and we will point out the programs worth a closer look.

What matters most to you?

Conventional loans

The flexible all-rounder

Best for: Borrowers with steady credit who want mortgage insurance that can come off, or who are buying a second home or investment property.

Down paymentAs low as 3%*
CreditStrongest pricing with higher scores
Mortgage insurancePMI under 20% down, removable
2026 loan limit$832,750 baseline*

PMI can be removed
Second homes & investment
No upfront program fee
Higher baseline loan limit

Explore Conventional loans →

FHA loans

Built for flexibility

Best for: First-time buyers, borrowers rebuilding credit, and households with limited savings or higher debt-to-income ratios.

Down payment3.5% with 580+ credit*
CreditFlexible credit guidelines
Mortgage insuranceUpfront + annual MIP
2026 loan limit$541,287 to $1,249,125*

3.5% down payment
Flexible credit
Gift funds welcome
1 to 4 unit homes

Explore FHA loans →

VA loans

Earned through service

Best for: Eligible veterans, active-duty service members, qualifying National Guard and Reserve members, and eligible surviving spouses.

Down payment$0 down with full entitlement*
CreditNo VA-set minimum score
Mortgage insuranceNone
2026 loan limitNo VA limit with full entitlement

No down payment
No monthly mortgage insurance
Funding fee waived for many
No VA loan limit

Explore VA loans →

Side-by-side comparison, 2026 guidelines
Feature	Conventional	FHA	VA
Minimum down payment	3% for eligible buyers; 5% is common	3.5% with a 580+ score; 10% with 500 to 579	0% with full entitlement
Credit profile	Underwriting reviews your full credit picture; higher scores earn better pricing	Designed for credit flexibility; lender minimums apply	No minimum set by the VA; lender minimums apply
Mortgage insurance	PMI when you put down less than 20%	Upfront MIP of 1.75% plus annual MIP (0.55% for most 30-year loans)	No monthly mortgage insurance
Can mortgage insurance end?	Yes. Request removal at 80% loan-to-value; it ends automatically at 78%	Only after 11 years if you put down 10% or more; otherwise it lasts for the life of the loan unless you refinance	Not applicable
Upfront program fee	None	1.75% upfront MIP (can be financed)	Funding fee of 1.25% to 3.3% (waived for many disabled veterans)
2026 loan limit (1 unit)	$832,750 baseline; up to $1,249,125 in high-cost areas	$541,287 to $1,249,125 depending on county	No VA loan limit with full entitlement
Property types	Primary homes, second homes and investment properties	Primary residence, 1 to 4 units	Primary residence, 1 to 4 units
Who can apply	Any qualified borrower	Any qualified borrower who will live in the home	Eligible veterans, service members and surviving spouses with a Certificate of Eligibility
Gift funds for down payment	Allowed with documentation	Allowed from eligible donors, such as family	Allowed (often not needed with $0 down)

★ marks the program with the edge on that feature.

*Figures reflect 2026 program guidelines from FHFA, HUD and the Department of Veterans Affairs and are for educational purposes only. This is not a commitment to lend or an offer of specific terms. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability, and lender requirements may be stricter than program minimums. Not all applicants will qualify. FLO Mortgage, Company NMLS #1835856. Equal Housing Opportunity.

How to choose between conventional, FHA and VA

Start with eligibility

If you have served in the military, check your VA eligibility first. No down payment and no monthly mortgage insurance are hard to beat, and many disabled veterans pay no funding fee.

Then look at credit and debt

Strong credit usually points toward conventional, where good scores bring lower rates and cheaper PMI that can be removed. If your score is still recovering or your debt-to-income ratio is on the higher side, FHA may approve you when conventional will not.

Think about how long you will keep the loan

FHA mortgage insurance often lasts for the life of the loan, while conventional PMI can come off once you reach 20% equity. If you expect to stay put for many years, that difference adds up.

Consider the property

Buying a vacation home or a rental? Conventional is the only one of the three that finances second homes and investment properties. FHA and VA are for homes you will live in, including 2 to 4 unit properties where you occupy one unit.

There is no single “best” loan. Many buyers qualify for more than one program, and the right choice can change with your down payment, your score or the home you pick. A loan officer can price your options side by side before you commit.

FAQ

Loan comparison questions, answered

What is the difference between conventional, FHA and VA loans?

Conventional loans are not government-backed and follow Fannie Mae and Freddie Mac guidelines. FHA loans are insured by the Federal Housing Administration and offer flexible credit guidelines. VA loans are guaranteed by the Department of Veterans Affairs and offer $0 down and no monthly mortgage insurance to eligible veterans and service members.

Which loan has the lowest down payment?

VA loans allow no down payment for borrowers with full entitlement. For borrowers who are not VA-eligible, conventional loans start at 3% down for eligible buyers and FHA loans start at 3.5% down with a credit score of 580 or higher.

Which loan is easiest to qualify for?

FHA loans generally have the most flexible credit and debt-to-income guidelines. VA loans are also flexible for eligible borrowers, since the VA does not set a minimum credit score. Lender requirements still apply to every program.

Which loans have mortgage insurance?

Conventional loans require private mortgage insurance when you put down less than 20%, and it can be removed later. FHA loans have upfront and annual mortgage insurance premiums. VA loans have no monthly mortgage insurance but most borrowers pay a one-time funding fee.

Can I switch from an FHA loan to a conventional loan later?

Yes. Many homeowners refinance from FHA to conventional once they have built enough equity and their credit has improved, which can remove mortgage insurance. Refinancing has costs, so it is worth comparing the numbers first.

What are the 2026 loan limits?

For a one-unit home in 2026, the conforming limit for conventional loans is $832,750 in most areas and up to $1,249,125 in high-cost areas. FHA limits range from $541,287 to $1,249,125 depending on the county. VA loans have no limit for borrowers with full entitlement.

This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability. Lender requirements may be stricter than the program minimums described here. Not all applicants will qualify. Figures reflect 2026 program guidelines and may change without notice. FLO Mortgage is licensed in Florida, Georgia, Michigan, North Carolina, Tennessee and Texas. Company NMLS #1835856. Equal Housing Opportunity. Licensing & Disclosures.

Local, licensed help

Talk your options through with a FLO loan officer

Every FLO Mortgage loan officer can walk you through this program, run the numbers for your situation and compare it with your other options. Have questions? Call our main office at (386) 882-9980.

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Client reviews

★★★★★ 5.0 on Google from 160+ clients

    
 
 
       Posted on Google  
   
   Daniel Shapkin 
 
 
 
 Trustindex verifies that the original source of the review is Google. I had a great experience working with Rich. He was professional, responsive, and great to work with throughout the entire process. What really stood out to me was that Rich is a true problem solver. If anything ever comes up during a transaction, he’s quick to jump in, find a solution, and do whatever it takes to keep things moving forward. I really appreciate his communication, professionalism, and willingness to get the job done. I’d definitely work with Rich again and highly recommend him!
  
 
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   Michael 
 
 
 
 Trustindex verifies that the original source of the review is Google. Anthony help we buy a great house in the Flagler Beach area.   Was able to get a great rate.  Very educational and answered all my questions.   Would highly recommend. Will be using Anthony again.
  
 
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   Skyler Ciolino 
 
 
 
 Trustindex verifies that the original source of the review is Google. Awesome lenders!! Have done multiple deals with Anthony!! Proactive and responsive!
  
 
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   Mike Ginn 
 
 
 
 Trustindex verifies that the original source of the review is Google. Anthony and his team were very helpful getting us approved for a home when other companies couldn't. We would still be in a rental if it wasn't for Flo Mortgage

Thank you!!!
  
 
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   Geoffrey Grau 
 
 
 
 Trustindex verifies that the original source of the review is Google. Sandy, has been the absolute best!! I dont think we would be anywhere with out her! Great source for all your mortgage needs! Ill be using her again any time needed! Thanks again! A+++
  
 
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   Kat Cruz 
 
 
 
 Trustindex verifies that the original source of the review is Google. ⭐⭐⭐⭐⭐ ⭐⭐⭐⭐⭐ ⭐⭐⭐⭐➕
If I could give Anthony Jones and the entire FLO Mortgage team more than 5 stars, I absolutely would.

My family and I had almost lost hope after working with multiple lenders and hearing “no” over and over again. We were discouraged and started believing that homeownership just wasn’t meant to happen for us.

Then Anthony and his team took over our loan, and everything changed.

What other lenders couldn’t accomplish in months, Anthony and the FLO Mortgage team accomplished in just 12 days. That still amazes me. Their knowledge, communication, dedication, and ability to solve problems turned what felt impossible into reality.

From day one, Anthony was honest, responsive, incredibly patient, and always willing to answer my many questions. Brenda and the rest of the team were equally amazing, keeping everything moving and making sure I understood each step of the process. Buying a home can be overwhelming, but they always made me feel informed, supported, and confident.

What impressed me most was that they never treated us like just another loan file. They treated us like a family with a dream worth fighting for. Every time an obstacle came up, they found a solution instead of giving up.

Because of Anthony, Brenda, and the entire FLO Mortgage team, my family is now proud homeowners. Receiving the keys to our very first home is a moment we’ll cherish forever, and we know it would not have been possible without their hard work, teamwork, and determination.

If you’re looking for a mortgage team that truly cares, communicates exceptionally well, and works relentlessly on your behalf, I wholeheartedly recommend Anthony Jones and FLO Mortgage. They didn’t just help us buy a house. They helped make a lifelong dream come true.

Thank you, Anthony, Brenda, and the entire FLO Mortgage team. May God continue to bless each of you as you help more families achieve the dream of homeownership. We will never forget what you did for our family. 🏡🔑❤️
  
 
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   Olga Vsevolodova 
 
 
 
 Trustindex verifies that the original source of the review is Google. Excellent support throughout the preparation, the selection of the house, and the transaction itself. Many thanks, Ella Chageyeva
  
 
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   Lisvan Montelier 
 
 
 
 Trustindex verifies that the original source of the review is Google. Lo mejor de lo mejor gracias