Best type of loan for first deal

[Antonio Jaime]

I am trying to make the best decision in my first deal to create equity and later invest into more properties. What is the best type of loan for first buyer? I am currently in the talks with synergy one, any opinions with this provider?

[Daniel Haberkost]

Originally posted by @Antonio Jaime:

I am trying to make the best decision in my first deal to create equity and later invest into more properties. What is the best type of loan for first buyer? I am currently in the talks with synergy one, any opinions with this provider?

Is the first deal going to be owner-occupied? One thing I did not realize when I bought my first property was that (as of 2012 I think??) when you do a 3.5% down FHA loan the monthly mortgage insurance never falls off. So if I were to do it again I'd go with a 5% down conventional loan.

But again, that's only applicable if you're going to occupy the property, what are your plans?