On average what intrest rate and down paym am i looking at with a 630 experian score

[Jimmy Rojas]

Im a first time home buyer, no existing debt, self employed, bring in average $4k monthly, looking for a conventional fixed rate loan in PHX or surrounding areas.

[Raymond J. Rodrigues]

@Jimmy Rojas, have you tried getting pre-approved through a lender to see what they can offer you? Is there a reason why you would prefer a conventional loan over FHA loan?

FHA loans are not credit score driven loans as much as conventional loans are. WIth buying a property as a primary residence, you'd receive far better terms with an FHA loan.

With an FHA loan, expect an interest rate in the high 6's low 7s. For conventional, depending on how many points you might end up paying, you'll be in the 7's, up to 8%.