A "conventional" loan requires at least 20% of the purchase price for the down payment. Typically a lendor looks for at least a 2 year job history and 2 year credit history.

To sum it up, a conventional loan is any mortgage that is not guaranteed or insured by the federal government. A conventional loan is a mortgage loan that follows the guidelines of government sponsored institutions such as Fannie Mae or Freddie Mac. If you are refinancing your home you may get a conventional loan.

There are factors that are taking into consideration when getting a conventional loan like middle fico score of 620 and income and debt ratios and down payment requirements between 5% and 25%.

A conventional loan is a regular mortgage loan that most people apply for. The other types of loans are the FHA/VA loans. You will have to check with a lender to see what their requirements are. The biggest differences between the conventional and FHA/VA loans is the down payment amount and interest rates.