I compared the benefits for an FHA loan versus conventional loan for 1st time homebuyers in 2024. The topics we cover are 01:33 FHA loan credit requirements 03:51 conventional loan credit requirements 04:41 Biden's loan level price adjust "hurting" those with good credit 05:21 Down payment requirements for FHA loans 06:00 Conventional loan down payment requirements 06:30 Update conventional loan housing hacking guidelines 06:52 Conventional loan vacation home and investment property guidelines 07:43 Occupancy requirements for FHA and conventional loans 08:01 Does an conventional or FHA loan have better rates 08:21 Differences in mortgage insurance between FHA and conventional loans 09:52: LTV explained and an example 11:34 How to drop mortgage insurance on an FHA loan 12:12 DTI requirements for FHA and conventional loans 13:19 2024 Loan limits for FHA and conventional loans 14:24 Seller perception for FHA and conventional loans 15:22 Appraisal differences for FHA and conventional loans 16:00 The amendatory clause explained Looking for a home in Dallas? Schedule a call w/ me: https://calendly.com/houserich/dfw Outside of Dallas? Connect w/ a dope Realtor in your local market: https://homeandmoney.com/houserichdave/ This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. 🏠🏡🔑🗝️🏠🏡🔑🗝️🏠🏡🔑🗝️Important info below ⤵️ 🤠I'm a Realtor in Dallas, TX. If you're looking to move to the Dallas, TX area or a local looking to buy I'd love to help. I'm Veteran (Go Navy!!) and have helped 100s of Texas (and out of towners) buy homes in my pervious life in the mortgage industry (I'm a guidelines nerd). Reach out to work with me. 🤠In the DFW market? Schedule a planning call- https://calendly.com/houserich ⭐If you're looking for a top realtor in your area I can help you with that too. https://calendly.com/houserich/ 📧 hello@houserichshow.com 🏡World's Best Home Buying Tips: https://www.youtube.com/@Homebuyingtips 🎙️My Podcast. Homebuying tips on the go: https://www.houserichshow.com/ 🏠Join my email list and get a FREE credit repair guideline: https://houserichdave.myflodesk.com/newsletter 📚 New to the page? Start here for 2023 mortgage guidelines https://youtube.com/playlist?list=PLjFvxi72ii9j_J6dfqhvExAhE5lF5otgx David Ball Dallas Texas Real Estate Agent | Texas Real Estate License: 800326 📽️📺📹🎥 TikTok- https://www.tiktok.com/@houserichdave IG- https://www.instagram.com/houserichdave/ @houserichdave