This type of loan is the best for those who have good credit scores and leverage lower debt. Conventional loans are not backed by the government. This type of loans are provided by private banks most of the time.
Majority of the time, conventional loans have higher interest rates compared to FHA. If you want to apply for a conventional loan, you must have proof of income, all the details of your investment, employment verification, and other documents such as driving license or state id card.