Mortgage Rules And Regulations Different Fha Loans Conventional Loan vs FHA Loan – Difference and Comparison. – FHA loans require mortgage insurance, which must be paid both upfront and monthly. Most 15- or 30-year FHA loans require the borrower to pay 1.75% of the loan amount at closing, along with a 0.5% annual renewal premium for the length of the loan. Half of the upfront mortgage insurance premium is refundable when the home is sold.Conventional first mortgages, being those first mortgages. looking statements within the meaning of applicable securities laws including, among others, statements concerning our objectives.