What makes one not qualify/qualified for conventional loans?
The number one reason for an FHA loan is bad credit. FHA loans can also help a little with lessening a down payment in exchange for a slightly higher monthly payment. Then third would be some weird stuff like the aforementioned that would be pretty rare.
When you sit down for your pre-approval before you start looking for a house, your mortgage person should be able to show you a sheet of what your down payment and monthly payment would look like with either type of loan at a few different price points(usually what you’re asking for and then $10-15k in either direction of that)