First, be sure to compare the interest rates offered on both types of loans, FHA vs Conventional loans. You’ll find that the interest rates on FHA loans can be quite low, especially when you compare them to the rates offered on conventional loans.

Second, make sure you understand the terms of your loan. Many conventional loans come with terms that can be hard to meet, such as minimum payments that are high relative to the amount you borrow. On the other hand, FHA loans have more forgiving terms, so you can usually afford to make smaller monthly payments.