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It depends on the type of loan, the amount you owe, and your credit score.
FHA loans are for low-to-moderate income borrowers who have very low-down payments. They are popular among first time home buyers because they offer lower mortgage insurance rates than other conventional loans, making them less expensive to take out. As long as you qualify for one, lenders will also use FICO® scores that demonstrate a willingness to repay debt.
Conventional loans have stricter requirements compared with an FHA loan so it may be difficult for someone who has defaulted on student or car payments in the past years to borrow money from this type of lender. The other drawback is that conventional mortgages require a 20% down payment whereas