depends on your credit score, you really want a 740 score on a conventional loan. you can go as low as 680. on fha, you'll have an upfront funding fee plus pmi is higher. but fridays rate was at 3.25% on an fha, 3.625% on a conventional loan. fha will work with buyers as low as 640, rate still at 3.25%
We just did a conventional and by just I mean last week. 20% down. Locked in at 3.3%. We can get the papers redone one more time for free if rate goes lower before closing. I doubt it will though. We asked about FHA, but was told that with our high credit scores and 20% down payment, it was not worth it. Said we would have to carry some kind of insurance FHA requires in addition to just regular home insurance,+ a lot of other fees, pmi, etc.