Other than that, the answers you have received are correct.
However their MIP (same as pvt,mtg.ins.) is higher ... it is being raised to 2.5%.
If you have 5% of your own funds, I would prefer conventional. ALSO PROVIDING you have a credit score of at least 740. Below this, FHA is your only choice, but they have a cutoff for credit scores as well.
Remember, family means just what it says. For instance a fiance' cannot be considered a relative
Conventional has a 5% buyer requirement IF the total down payment is less than 20%.
If you have any quesitons please shoot me an email or message.
All the Best to you!!