Conventional Conforming loan A conventional loan is one that is not insured by the Federal Housing Administration (FHA) or guaranteed by the Veterans Administration (VA). It is called conforming because it conforms to the accepted standards set by Fannie Mae and Freddie Mac. The minimum down payment is typically 5%, and the maximum loan amount is $227,150. My mortgage calculator allows you to choose from these conventional conforming loans: 30-year fixed 2-1 buydown 1 year ARM 3/1 ARM 7/1 ARM