are fha rates better in general than conventional ?

Yes FHA rates are generally lower. However, FHA programs carry a higher monthly mortgage insurance premium which you must keep for the life of the FHA loan. In general, if you can qualify for a convention loan, the overall payment and costs will be lower. Feel free to call me for further information or to answer any other questions you have.Ralph Guertin (954) 274-7725ralph@absolutelowrates.com

There are many types of loans with lower down payment. FHA has the lowest down payment 3.5%, and their rates are slightly lower than conventional, but you would be adding 1.3-1.35% in monthly mortgage insurance on top of your payment. Conventional you can put down 5% and have lower monthly mortgage insurance. Plus conventional doesnt have the upfront mortgage insurance that FHA does. There are also piggyback loans with 1st @ 80% and 2nd @ 10% with only 10% down. No mortgage insurance. Check out my page and our website www.valleyviewhomeloans.com

Try to put at least 5% down, and go conventional, if you have excellent credit.