Conventional loans are mortgage loans not backed by the government, such as the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). These loans are provided by private lenders and typically require higher credit scores and a larger down payment than government-backed loans. The terms and interest rates of conventional loans may vary depending on the borrower’s credit history and financial situation. However, they offer more flexibility and fewer restrictions than government-backed loans, making them popular among borrowers with good credit scores and financial stability.