Conventional mortgage for 3% down ?

[Javier Sanchez]

I've recently spoke with a loan officer from a local mortgage company in my market and explained to him that I wanted to get pre approved for a FHA loan. He asked me why I wanted to go with FHA instead of conventional since everything on my finances and credit checks out good and I told him that I wanted to pay as little as down payment as I can, and with conventional you need on the average of 20%-25% of down payment. So he informed me that I can get a conventional loan for low as 3% down. I never heard of a conventional mortgage that only requires 3% down. This will be my first property I buy and I'm planning to house hack for a year Than repeat. Any answers would be appreciated thanks.