Comparing conventional and FHA loans in Texas can be a challenge! There are many (differing) factors to consider when trying to determine which type of loan is right for you. (Conventional loans) typically require a higher credit score, while FHA loans may have more flexible qualifications. Additionally, the down payment requirements vary greatly between the two types of mortgages. With a conventional loan, borrowers may need to put up as much as 20% of the purchase price; whereas with an FHA loan, they will only need 3.5%.

Furthermore, interest rates on conventional loans tend to be higher than those for FHA loans. This is because lenders see them as less risky because borrowers must meet stricter qualification requirements and provide larger down payments. However, the total amount of money paid over the life of a loan could potentially be lower if you opt for an FHA loan due to its lower interest rate.

Finally, one should also consider that both types of mortgages come with closing costs depending on where you live and how competitive your local market is. Conventional loans usually have higher closing costs than FHA loans but can also include extra fees like private mortgage insurance (PMI). On the other hand, some FHA lenders may charge additional origination fees or annual premiums - so it's important to shop around before making your final decision!

To sum up, there are pros and cons associated with both conventional and FHA loans in Texas. Ultimately it comes down to what best fits your financial situation! Be sure to weigh all options thoroughly before committing – it could make a world of difference in terms of saving money in the long run!