How low can you go on conventional mortgage down payments?

[Mike Lindsey]

Hello. I recently paid off my home. I've been contemplating buying a new property that I could rent out. I have no plans of living there at any part of the process which, if I understand correctly, would disqualify me from an FHA loan and have to use a conventional mortgage loan which I've never done.

My question is, are conventional mortgages a set 20% down or is one able to get low down payments the same as an FHA loan to keep more cash on hand? I'm a complete noob and I'm sure this is basic knowledge, so I appreciate the help. Thank you in advance.