Before shopping for a home, consider financing options like FHA or conventional loans. FHA loans are insured by the government, making them more accessible to first-time buyers. Conventional loans have stricter requirements, including higher credit scores. Lenders use your credit score and debt-to-income ratio to determine eligibility. Mortgage insurance is required for both types of loans. Loan limits vary based on area costs. Refinancing between FHA and conventional loans is possible but has pros and cons. Choose the best option based on your financial situation and goals.

Read more at Yahoo Finance: FHA vs. conventional loan: Which should you choose?