Am I missing something?

[Anthony Simboli]

FHA vs 5% Conventional

I've used FHA in the past (3.5% down, 1.75% up from MIP, 0.85% Monthly MIP), and I've been hearing about 5% conventional. If my math is right 3.5% + 1.75% would be more upfront, is it because you can roll the 1.75% into your payments? Any information or links to how the conventional 5% down loan works would be great. Pro's & Con's of the 5% conventional.

*Forgot to add, I'll be owner occupying 1 unit for at least 1 year* 

Thanks!