Down Payment Options

[Alex Rivera Jr.]

Hi, everyone. I'm looking to start saving up for my first property which will be a small multi-family probably out of state (I currently live in CT), would it better to put down 20% or should I go for 3.5% with an FHA loan?

[Aaron Zimmerman]

I'd look into other loan programs such as 5% conventional. You still pay PMI but not as much. To me, I'd rather take the lower down payment assuming the numbers make sense and keep the extra cash in my pocket for reserves, repairs, etc.