You can get a conventional loan without putting 20% down. We put 5% down. However, your mortgage payment will be higher until you reach the 80% mark due to mortgage insurance. Once you reach 80%, then the mortgage insurance will be removed. Or you can refinance your house later on down the road when you think the value is where it should be and then refinance and have the mortgage insurance dropped (this is what I did). My first house loan was FHA. I put down 3. 5%. Yes, there is mortgage insurance rolled in to the mortgage payment. It also varies by state, but there will be a maximum loan amount if you do FHA whereas conventional, it’s possible you can qualify for more house loan, depending on your DTI. Due to COVID, I’m sure there are going to be changes and adjustments. These will just be things that the lender will need to disclose to you.