FHA 203k loan and the Conventional Fannie Mae Homestyle Loan

[Kadisha Ledford]

I've been talking to a number of Realtors who all have one thing in common, they try to convince me to consider a FHA loan versus a HML. The kinds the have offered are FHA 203k loan and the Conventional Fannie Mae Homestyle loan... Is this a bad idea? I understand the risks of a Hard Money Lender and how much more expensive it will be. However, I feel like they make these loans seem so great and don't really tell me the negatives of each loan. I kind've feel like There's a catch. Are there any negatives to these kinds of loans? If so, then what are they? Would these kinds of loans be good for my first flip?