CONVENTIONAL CONFORMING
A conventional conforming loan is any loan that has terms and conditions that have established guidelines established. Fannie and Freddie Mac (the two leading loan agencies) decide what the minimum and maxium will be for each year. You can 
obtain a maximum loan amount that is 50% higher in Guam, Alaska, Hawaii, and the virgin islands.
A conventional conforming loan is smaller than a jumbo loan since the max you can take out is $417,000. These Loans are much more common than jumbo loans, so are generally easier to obtain.
FHA / VA
1-800-JUMBOLOAN™
An FHA loan is a federal assistance mortgage loan. These loans are insured by the U.S Federal Housing Administration. You can obtain one of these loans at any federally qualified lender. These loans are commonly used for lower income Americans to borrow money to purchase a home. Don’t get this confused with a jumbo loan because the two are very different. These loans are generally used for people who want to purchase a house but don’t have enough money to put down a down payment or don’t qualify for a private mortgage insurance (PMI).
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