Why would someone go with an FHA home loan over a Conventional?

I am married and my husband has quite a bit of debt I do not plan on paying off priot to buying a home. If I go FHA, his debt is added to my debt even though I am the only one on the loan. If I go conventional, the only thing that matters is my income, credit, debt, etc. Anyone have any ideas?

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  • 1 decade ago
    Favorite Answer

    As long as you can get approved for a conventional loan go with it. If you can get approved based on your income and credit only his debt doesnt matter. You can always add your husband to the loan later on. The conventional rates are much better than FHA rates right now If you need help with this let me know through email

    Source(s): I am a loan officer
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  • 1 decade ago

    Less money down (3%), less PMI, lower rates and it's backed by our wonderful government :)

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  • Anonymous
    1 decade ago

    Less down payment required.

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