First time home buyers can now purchase homes with as little as 3% down. Private mortgage insurance and lender paid mortgage insurance options are available for those who qualify. 

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A few key benefits of Conventional loans over FHA:

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- Lower down payment requirements (3% vs 3.5%)

- Lower Mortgage insurance factors equates to a lower payment

- Lender paid mortgage insurance options are available

- Mortgage insurance can be removed once there is ample ample equity in the home 

- Condo's do not require HUD's approval. 

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