Conventional loans are not guaranteed or insured by any government agency. They are a very popular choice with home buyers today because they offer many options. Down payment amounts can be as low as 3% for qualifying home buyers. Loan terms range from 10 to 30 years and offer a fixed rate or an adjustable rate option. The maximum loan amount for most of the U.S. is 453,100 but some high cost areas do allow a higher loan amount.