Is a conventional loan a government loan?
No. That's the defining feature. FHA, VA, and USDA are government-backed loans; conventional is everything that is not. Conventional loans are funded by private lenders and either kept by the lender or sold into the conforming or jumbo secondary markets.
Plain-English explanation
The 'conventional' label is most useful as a contrast: government-backed loans (FHA, VA, USDA) carry an explicit federal insurance or guarantee. Conventional loans don't. Risk reduction on conforming conventional comes from Fannie Mae or Freddie Mac's role on the secondary market — but those are government-sponsored enterprises, not direct government insurers of the loan.
What can change the answer?
Fannie Mae and Freddie Mac guidelines, lender overlays, and your specific file (credit, income, property, occupancy) drive the actual answer.
Want the real answer for your conventional file?
Conventional guidelines are the rule. Your credit, income, DTI, PMI, LLPAs, and Florida payment math are what decide the actual answer.
More conventional questions on Basics
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review.