CinnaPrep · Real Estate Exam Prep

FHA vs VA vs USDA vs Conventional — Real Estate Exam Cheat Sheet

A free, printable memory helper from CinnaPrep's real-estate exam library.

FHA: INSURED, low down (3.5%), MIP upfront + annual, owner-occupants

VA: GUARANTEED, eligible veterans, $0 down, funding fee, no monthly MI

USDA: rural areas, income limits, $0 down

Conventional: not government-backed; <20% down usually needs PMI

✦ PMI cancels near 78-80% LTV; FHA MIP often lasts the life of the loan

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