Trying to decide between an FHA loan or a conventional loan? As a first-time buyer in Bastrop, choosing the right loan can impact your down payment, monthly cost, and approval odds.
Here’s a side-by-side comparison to help you choose with confidence.
🏡 FHA Loan
- Minimum Down Payment: 3.5%
- Minimum Credit Score: 580 (flexible)
- Mortgage Insurance: Required for life of loan
- Debt-to-Income Ratio: More lenient
- Best For: Buyers with lower credit or smaller down payment
🏘️ Conventional Loan
- Minimum Down Payment: 3–5%
- Minimum Credit Score: 620+
- Mortgage Insurance: Drops off after 20% equity
- Debt-to-Income Ratio: Stricter
- Best For: Buyers with stronger credit and longer-term plans
Bastrop Buyer Tip
- FHA loans are great for homes under $472,030 (2025 Bastrop County FHA limit)
- Conventional is better long-term if you can qualify—it saves money over time
Final Thoughts
Both loan types can work well—it just depends on your credit, savings, and goals. I help first-time Bastrop buyers compare real numbers, not just online calculators.
📊 Want a personalized loan comparison worksheet? Let’s break it down together.
