FHA vs Conventional: Fullerton Down Payment Reality
By Wendy Rawley, Straight Talk. Clear Guidance. Real Results.
(The Wendy Rawley Team)
The $16,500 Question Every Fullerton First-Time Buyer AsksWhen you're shopping for a home in Fullerton, the down payment isn't just a line item on a cost sheet. It's the gatekeeper.At Fullerton's current median home price of $1,100,000, the FHA vs Conventional loans Fullerton debate boils down to this: can you bring $38,500 to closing, or do you need $55,000?That $16,500 gap is real money. For most first-time buyers, it represents months of additional savings, delayed timelines, or the difference between buying now and waiting another year.The Numbers That MatterFHA loans require 3.5% down. On a $1.1M home, that's $38,500.Conventional loans start at 5% down for most buyers. Same home: $55,000.But here's what most agents won't tell you upfront: FHA comes with mandatory mortgage insurance...
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