It would be best for you to meet with a licensed loan officer and go over all the facts of an FHA loan. There are many differences between FHA and a Conventional loan and it is best to be sure you know and understand what they are.
I am a licensed laon officer in New York. If I can be of further service, feel free to contact me.
Best of luck!
Equity Loans, LLC
"Direct Mortgage Lenders"