Understanding the differences between government loans and conventional loans is crucial for borrowers looking to make informed decisions about their mortgage options. Government loans are typically backed by a federal agency, such as the FHA (Federal Housing Administration), VA (Veterans Affairs), or USDA (United States Department of Agriculture). These loans often have lower down payment requirements and more flexible eligibility criteria, making them an attractive option for first-time homebuyers and those with lower credit scores.

Conventional loans, on the other hand, are not backed by a