Owner financing vs FHA

[Quinn Barnett]

I'm looking at a 160k quad that I would purchase with an FHA loan and have an estimated 3.3% interest rate. Owner financing is an option(slim option though). Would there be any reason for me to pursue that when the interest rate would probably be 5-6% ?

I was thinking about it because there might be considerable repairs required before the FHA loan approval goes through. But considering it does, any reason I would want to miss my 3.5% down payment?