Why might borrowers consider obtaining a conventional mortgage?

The choice that states borrowers might consider obtaining a conventional mortgage due to the potential ease of obtaining such a loan without government backing highlights an important aspect of conventional loans. Unlike government-backed loans such as FHA or VA loans, which have specific eligibility requirements and conditions, conventional mortgages are often governed by the private sector and can sometimes have more straightforward application processes. This can appeal to borrowers who prefer a quicker or less regulated avenue for financing.

While it is true that government-backed loans come with guarantees that can make them less risky from a lender's perspective, this also tends to come with more stringent requirements and longer processing times. Conventional mortgages can provide a more streamlined option, which could be particularly appealing to borrowers who may not fit the government loan criteria or who want to avoid the delays associated with additional government oversight.

Additionally, the aspect of less regulation can sometimes lead to a quicker decision-making process for lenders, thus facilitating a faster closing. This can make conventional loans an attractive choice for those who prioritize speed and efficiency in their financing options.