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PHONE: 215-934-3500 or 800-832-PFCU

ABA Routing # 236084298

FHA Loans vs. Conventional Mortgages

Based on your needs and financial status, you may qualify for a conventional mortgage, FHA Mortgage, or both. So, which is better for you? Review the chart below to understand the key differences between a Conventional Mortgage and an FHA Loan, including the requirements, down payment, and rates.


Conventional Mortgage FHA Mortgage
Down Payment 3%

All of the funds can be a gift from a family member
3.5%

All of the funds can be a gift from a family member
Minimum Credit Score Varies by loan program Varies by loan program
Rates Rates are determined by the lender based on guidelines/credit criteria. Rates are determined by the lender based on guidelines/credit criteria.
Mortgage Insurance Private Mortgage Insurance is required with less than 20% down. Upfront mortgage insurance premium can be added into the loan + monthly mortgage insurance premium.
Property Can be primary, investment, or secondary residence Primary residence only
Sellers Assistance Seller can assist with closing cost up to 9% depending on down payment.

2% maximum for investment properties
Seller can assist with closing cost up to 6%.
Property Locations In all 50 states PA, NJ, DE, & MD
Terms Up to 30 years Up to 30 years
Loan Limits Loan limits vary based on # of units, county, etc. Loan limits vary based on # of units, county, etc.
Products Offered Fixed Conventional & 5/1 ARM (Adjustable Rate Mortgage) Fixed & ARM Programs
  Conventional Mortgage Details FHA Mortgage Details

Want to talk to someone?

Call our Mortgage Department at 215-934-3500 to talk with a PFCU Mortgage Professional.

FHA guidelines are reviewed by CU Members Mortgage Loan Officers at 800-607-3474.

Refer your Friends
National Association of Federal Credit Unions 
PFCU is a proud member of the National Association of Federal Credit Unions
National Credit Union Administration 
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Excess Share Insurance Corporation 
Additional insurance of up to $250,000 on your savings accounts is provided by Excess Share Insurance Corporation, a licensed insurance company.
Equal Housing Lender 
We do Business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

We provide links to external websites for your convenience. Philadelphia Federal Credit Union does not endorse and is not responsible for their content, links, privacy or securities policies.

Please note that the amount of money contained in your investment accounts are considered non-deposit products and therefore, are not NCUA insured, not credit union guaranteed, may lose value, are not guaranteed by any government agency. Since they are not a deposit of the Philadelphia Federal Credit Union, investment accounts do not qualify for Excess Share Insurance (ESI). Securities, Financial Planning and Insurance products are offered through LPL Financial, and its affiliates, Member FINRA, SIPC. LPL Financial and Philadelphia Federal Credit Union are independent entities.