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FHA vs VA vs USDA vs Conventional
National · Financing & Lending — free cheat sheet for the real estate licensing exam.
🏦 Financing & Lending
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- FHA: INSURED, low down (3.5%), MIP upfront + annual, owner-occupants
- VA: GUARANTEED, eligible veterans, $0 down, funding fee, no monthly MI
- USDA: rural areas, income limits, $0 down
- Conventional: not government-backed; <20% down usually needs PMI
- PMI cancels near 78-80% LTV; FHA MIP often lasts the life of the loan
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Is FHA vs VA vs USDA vs Conventional on the real estate exam?Yes. Financing & Lending is a scored domain on the real estate licensing exam, and this topic appears in the national portion.
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