Best Home Buying Websites How Much House Can I Afford By Payment Fha Loan Vs Conventional Loan First Time Home Buyer FHA vs. Conventional Mortgages: Which Is Right for You. – First of all, if you are buying a home you don’t plan on occupying yourself, will have a co-buyer occupying, or do not meet the definition of a first-time homebuyer, you won’t qualify for an FHA loan, so a conventional loan would be your only option.First time buyer house loan In an effort to attract new residents, many states and cities offer first-time homebuyer grants and programs. The aid comes in the form grants that don’t have to be repaid or low-interest loans.How Much House Can You Afford? | Churchill Mortgage – Determine how much house you can afford with this easy-to-use Mortgage Calculator. Click and calculate NOW so you get an idea of your monthly mortgage payment.