Need help on choosing a loan!

[Delorean King]

Would it be a good idea to buy my first property (Duplex or fourplex) with a FHA loan?

[Chris Mason]

Originally posted by @Delorean King:

Would it be a good idea to buy my first property (Duplex or fourplex) with a FHA loan?

Find someone local that'll do a side-by-side with Freddie Mac Home Possible, which allows 95% LTV 2-4 unit. The better your credit, the more likely it is that this will be a better option. I'll skip the "lazy lenders shoving everyone into FHA without showing them other options" rant for now. :)

Home Possible has income limits by census tract, but that's based on data from the 2010 census when many areas were "underserved" by the mortgage industry (Great Recession and all)... local to me, that represents about 90% of Oakland, half of Alameda, swaths of San Francisco and Silicon Valley. Here is where you can look up income limits local to you. 

Good luck!