I have been saving money for a down payment on a house. When I felt I had enough money, I contacted a mortgage broker to get a pre-approval. He told me that since I have twenty percent for a down payment, I would qualify for a conventional home loan. I have a twenty percent down payment, so what is a conventional home loan? He explained that many loans require a smaller down payment, but conventional home loans require twenty percent. Since I had the twenty percent available, I would be able to get a conventional home loan, and I wouldn’t have to get one of the other types of loans.