A direct comparison of FHA and conventional mortgages for Illinois buyers: minimum down payment, minimum credit score, mortgage insurance cost and whether it ever falls off, debt-to-income flexibility, and the credit score around which conventional becomes the cheaper option. Written by Jorge Flores, Senior Loan Officer at Neighborhood Loans, NMLS #224368.
Jorge A. Flores, Senior Mortgage Loan Officer, NMLS #224368. Neighborhood Loans, NMLS #222982. Berwyn, Illinois. Telephone (708) 220-3364. Service available in English and Spanish.
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Equal Housing Lender. Neighborhood Loans is an Illinois Residential Mortgage Licensee. This is not a commitment to lend. All loans subject to credit approval; program terms, amounts and availability are subject to change.