A Conventional loan is a loan that is not backed by a federal agency, but instead backed by private lenders such as Fannie Mae or Freddie Mac. Typically, conventional loans may require more from the borrower than an FHA LOAN.
A conforming loan is a loan that adheres to the loan limits set by Fannie and Freddie.
A non-conforming loan is a loan that falls outside of the conforming loan limits.
Anyone who meets the necessary criteria for a conventional loan