Side-by-side comparison of FHA and conventional loans in Florida — down payment, credit, PMI, and total cost.
Written by Renzo Johnson, Licensed MLO · NMLS #PENDING · Last updated: February 2026
- Down payment: FHA 3.5% vs Conventional 3-5%
- Credit score: FHA 580 vs Conventional 620
- Mortgage insurance: FHA MIP permanent vs Conventional PMI cancels at 80% LTV
- Upfront fee: FHA 1.75% UFMIP vs Conventional $0
- DTI limit: FHA 57% vs Conventional 50%
- Property standards: FHA stricter vs Conventional more flexible
- Condos: FHA requires project approval vs Conventional more flexible
- Winner depends on: credit score, down payment, how long you’ll keep the loan
- Key insight: at 700+ credit, conventional is usually cheaper long-term due to PMI cancellation