Who this is for
Use this when you’re a guest or a registered user without a lender approval connected to Padzilly. Once you connect approval, Padzilly uses the loan program in your approval and your results reflect that program.
How it works
Tap Conventional or FHA above the results.
Padzilly updates each home’s payment and cash needed using typical assumptions for that loan type.
Your Filter by Payment and Filter by Cash Needed still apply to the updated figures.
Which to choose? (general guidance — your lender will advise)
FHA
Can fit when cash is tight or credit scores are lower.
Allows lower down payments in many cases.
Trade-offs: includes FHA mortgage insurance (MIP) and has property/program rules.
Conventional
Often best with a larger down payment and excellent credit.
Private mortgage insurance (PMI) can drop as equity grows.
Frequently simpler for some properties (see condo note).
Important: This comparison is educational. The best program for you is decided by your lender after reviewing your full application.
Condo shoppers: special note about FHA
Financing condominiums with FHA can be difficult because many condo communities are not FHA-approved.
If you’re browsing condos, we recommend previewing with a 5%-down Conventional loan type. Your lender can confirm if a specific condo allows FHA.
Works with SearchPro
Adjust Price and Down Payment to see effects under the selected loan type.
Seller Contribution becomes available after you upload a lender preapproval or complete Padzilly prequalification; it can reduce rate or closing costs within program limits.
Notes
Estimates improve once you connect approval; terms vary by lender and program.
Eligibility depends on credit, income, property type/condition, and loan limits.