Conventional loans are the most popular loan type, but they also come with the strictest qualifying requirements.
Picking the right mortgage option could make the difference between a quick preapproval or a frustrating loan denial. Several government agencies offer loan programs that cater to borrowers with low credit scores, military borrowers or low-income buyers looking for homes in rural parts of the country. Conventional loans are the most popular loan type, but they also come with the strictest qualifying requirements.