Short answer
It depends on your credit score, your down payment and whether you're eligible for VA. Today, with a 680 credit score and 5% down, FHA costs about $27,476 less over 10 years. For a veteran at 680, VA with 0% down wins by about $33,553. Pick your numbers below for the full side-by-side math.
Today’s rates · Rates as of November 4, 2026
Reviewed by Andrew D'Amato — President & Mortgage Expert · NMLS #1289793
Know the programs
Built for good-but-not-perfect credit and a small down payment.
Best for: Credit from 580 to about 720, with 3.5% to 10% down.
More about FHA loansThe standard loan. Gets cheaper as your credit gets stronger.
Best for: Credit of about 720+, or 20% down.
Today's conventional ratesFor veterans and service members. Usually the best loan if you're eligible.
Best for: Anyone eligible, at almost any credit score.
More about VA loansCompare, priced today
Pick your credit score and down payment to see the full side-by-side math.
Savings over 10 years. Tap a box for the full math.
What's the best mortgage with a 680 credit score and 5% down? Today it's FHA: about $27,476 less than conventional over 10 years.
680 credit · 5% down · $375,000 home · priced todayRates as of November 4, 2026
30-year fixed
FHA
Rate
6.099%
APR
7.114%
30-year fixed
Conventional
Rate
6.999%
APR
7.756%
FHA saves
$212/mo
on your monthly payment vs Conventional
FHA saves
$27,476
in total costs over 10 years
FHA saves
$471
in cash at closing
FHA. At 680 credit with 5% down, it's the better loan whether you keep it 5 years or 10.
We'd take FHA here, with a plan: once your home has 20% equity, look at refinancing to conventional to drop the mortgage insurance for good. We'll watch rates for you and tell you when it makes sense. Either way, we price both for your exact numbers before you decide.
Compare, priced today
For veterans and service members: VA with 0% down compared with conventional at 5% down. Pick your credit score to see the full side-by-side math.
What's the best mortgage for a veteran with a 680 credit score? Today it's VA with 0% down: about $33,553 less than conventional with 5% down over 10 years.
680 credit · VA 0% down, Conventional 5% down · $375,000 home · priced todayRates as of November 4, 2026
30-year fixed
VA
Rate
6.000%
APR
6.452%
30-year fixed
Conventional
Rate
6.999%
APR
7.756%
VA saves
$260/mo
on your monthly payment vs Conventional
VA saves
$33,553
in total costs over 10 years
VA saves
$17,188
in cash at closing
VA with 0% down. At 680 credit, it's the better loan whether you keep it 5 years or 10.
If you're eligible, VA almost always wins, and it does here: no down payment, no monthly mortgage insurance and a lower rate. With a VA disability rating the $8,062 funding fee is waived, so it wins by even more. Conventional can still make sense if you can put 20% down, which removes mortgage insurance and skips the funding fee, or if you want to keep your VA entitlement free for a later home. Either way, we price both for your exact numbers before you decide.
Every comparison prices a 30-year fixed purchase of a $375,000 single-family primary residence in Virginia. “Saves” is the difference in total borrowing cost (closing costs, interest and mortgage insurance) over 10 years.
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It depends on your credit score and down payment. FHA mortgage insurance costs the same at any credit score. Conventional mortgage insurance gets cheaper as your score goes up and comes off on its own at 78% of the home's value. So lower scores tend to favor FHA and higher scores conventional. The grid above shows which one costs less today at each score.
If you're eligible, usually yes. VA needs no down payment and has no monthly mortgage insurance, just a one-time funding fee, which is waived with a VA disability rating. Conventional can still make sense if you can put 20% down, which removes mortgage insurance and skips the funding fee.
VA: 0%. FHA: 3.5% with a 580+ credit score. Conventional: 3% for first-time buyers, 5% otherwise.
FHA: it stays for the life of the loan with less than 10% down, and for 11 years with 10% or more. Conventional: it drops off on its own at 78% of the home's value, or sooner if you ask at 80%. VA has no monthly mortgage insurance.
Veterans, active-duty service members and some surviving spouses.
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