Conventional is different and depends on several factors. Credit, type of home and DTI just to name a few.
You should have a loan officer compare FHA to conventional. There are also many different ways to pay for the MI. Monthly or a buyout are a few of the options. Again a good loan officer should be able to walk you thru the options, explain them to you and show you the best way to do it for you. Not what's easier for the loan officer. Hope this helps and please let me know if you need more information.
Senior Loan Officer
600 Jefferson Plaza, Suite 400
Rockville, MD 20852