I am confused, which is better normal or FHA? and what is the difference

If you have a smaller down payment or a lower credit score, then FHA loans are more geared towards that. Usually, if you have 20% down and good credit a conventional loan is the way to go. FHA loans do have higher costs associated with them that are usually financed, but they make it easier to get into a home. Have your loan officer show you a head to head comparison of each, you will definitely be able to tell the difference.

If you have good credit and have substantial down payment there is no need to incur the high costs of an FHA mortgage. On the other hand if you do not have the best credit and a lower down payment FHA is the way to go for you.How is the your credit and prefered down payment?

FHA offers many benefits that a conventional/traditional mortgage cannot. First of all, you can purchase a 1-4 family residence with as little as 3.5% down, of which, it can come from a GIFT (a family member can show that they are giving you the funds instead of you having to verify you have the 3.5% yourself). Credit scores are as low as 620 and the RATES are usually much better than conventional. We are National Direct Lenders and I would love to give you a FREE, No Obligation quote. Please email me your contact information. www.Mortgage-FHA-Rates.com.

FHA is not about big brother protecting you.fha has a very steepmortgage insurance to protec the lender should the borrower default. these are high risk loans for the investor. 3.5% down payment with credit scores in the low 600s. If this fits you, maybe that's why you where told that you should get a FHA loan. .... Happy funding, Rudi. ..... www.umboc.com