FHA vs Homepossible loan for first time home buyer

[Beruk Lessanework]

Hello everyone, I am currently looking to purchase my first home and I am wondering which mortgage would be the best for me. I am planning to house hack it, but I want to make sure I pick the right loan before I start. Does anyone have any advice on which way to go? It also doesn't have to be an fha or homepossible loan if there's something better that I don't know about. 

For reference I am in my 20s, single, make about $70k and have no debt. 

Thanks!

[Beruk Lessanework]

Quote from @Patrick Roberts:

In most circumstances with good credit, HomeReady or HomePossible is going to crush FHA from a value standpoint. Generally, the biggest deciding factor between FHA and Conventional is credit. If your FICO is over 700 and especially over 720, Conventional is usually a better option.

 That's interesting, I never thought about using a conventional loan for my first home but with a 3% down payment requirement, that's something to think about. I forgot to mention that my FICO is over 750.