There are two main categories of conventional loans
1. Conforming Loans
2. Non-Conforming Loans
There are three main types of conventional loans:
1. Conforming (<= $424,100)
2. Conforming Jumbo ($424,101 – $636, 150; county specific)
3. Jumbo (Non-Conforming)(up to $10,000,000)
The majority of loans are conventional. The majority of conventional loans are 30 year fixed mortgages. Conventional loans cost less than FHA loans, but getting qualified can be more difficult.