Most of what we see is conventional financing with at least 5% down, with FHA and VA a smaller slice, often around 10% combined in our own book. Conventional leads for a reason. Once credit is reasonably strong, say around 680 and up, conventional pricing under the loan-level price adjustment grids is usually hard to beat unless you are putting down well above 10%, and even then FHA deserves a side-by-side look. Good loan officers compare on total cost rather than rate alone; many use a tool called Mortgage Coach to lay the options next to each other. The right program is borrower-specific. Credit score, down payment, income, and property type all move the answer, and the pricing grids change over time, so confirm current pricing rather than assuming last cycle's winner still wins. One caution for FHA borrowers holding an older low rate: do not assume a refinance helps. Older FHA loans often carried a higher annual mortgage insurance factor than newer ones, and a very low note rate plus that older insurance can still net out to an effective rate no refinance would beat. Run the blended-rate math before you refinance, and we are happy to do that with you in a free Roadmap conversation.