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It depends on your specific profile. Conventional usually fits if your credit is solid (above the FHA floor), you have a comfortable down payment, and you'd prefer mortgage insurance that eventually goes away. FHA fits if your credit is still being built, your down payment is tight, or you have non-traditional employment history. There's no universally better program — there's the one that fits you. In pre-qualification, Jesse calculates both scenarios with you and shows which one comes out better for your case.

It varies a lot. There are conventional programs with reduced down payments specifically for first-time buyers. There are standard options that require more down payment but give you a better rate. And there are points in between. The specific number depends on your credit, income, property type, and loan term. We won't put a percentage on a web page — Jesse gives you the specific number in pre-qualification.

Conventional generally requires higher credit than FHA — the floor varies with the lender, with the rest of your profile, and with the specific program. If your credit is damaged, FHA may be the better path first, while you build to a level where conventional opens better terms. Jesse reviews your report with you and tells you exactly where you stand.

PMI stands for private mortgage insurance — insurance paid when your down payment is less than a certain threshold on a conventional loan. The important difference from FHA's MIP: conventional PMI can be removed once your equity reaches a determined level (through you paying down, or through the home appreciating). FHA MIP often stays for the life of the loan unless you refinance. For buyers with strong profiles, that structural difference is exactly why we walk through both program scenarios case by case before recommending one — whether it matters for your situation depends on factors that belong in a conversation, not on a brochure.

Yes. FHA is limited to your primary residence. Conventional allows second homes (vacation) and investment (homes you'll rent) — with different terms from your primary residence: higher down payment, stricter credit, and sometimes a different rate. If you're thinking about these scenarios, it's worth having the conversation early so the initial structure sets up for what you want to build later.

Yes — but documentation matters more than with FHA. Conventional needs to see stable income history: federal returns from the last two years, business records, and sometimes profit-and-loss statements or letters from your CPA. If you're self-employed or have multiple incomes adding up, it's not an automatic 'no.' What changes is which papers you bring to pre-qualification.

Yes, in many cases. Nevada has down-payment assistance programs that can be combined with both FHA and conventional. Which one fits you and which you qualify for depends on your specific situation. Jesse identifies the applicable programs in pre-qualification and explains how they stack, so you don't get lost in the paperwork.