Conventional loans — those not backed by a government agency — offer flexibility in loan structure and are often the best fit for buyers with:

• Credit scores of 620 or higher (740+ for best rates)
• Stable employment and verifiable income
• Down payment of 3%–20%
• Long-term ownership goals

Conventional loans also allow you to cancel private mortgage insurance once you reach 20% equity — a meaningful long-term savings compared to FHA mortgage insurance.