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Renters vs. Homeowners Insurance

If you’re not sure about the difference between renter insurance vs. home insurance, you’re not alone. Insurance is one of the hardest parts of adulting because we’re expected to understand it without any education — and it’s complicated.

This article is here to help you, we’ll cover the definition of renters insurance and the similarities and differences between renters and homeowners’ policies. You’ll learn how to choose the best coverage for your needs and save money on your insurance.

Find the Best Renter Insurance

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What is an FHA Loan?

When talking about the requirements for buying a home, chances are that you’ve heard the 20% down payment requirement rule. Conventional loans often require a 20% minimum down payment in order to secure. Without it, you either won’t get approved for the loan or will pay for pricey private mortgage insurance to obtain it.

With an FHA home loan, though, that 20% rule doesn’t apply. With these types of government-backed loans, you can buy a house with as little as 3.5% down. The loose lending parameters for FHA loans mean that many more people can qualify to buy a home, even if they can’t meet the traditional downpayment or credit guidelines.