First property: multifamily with FHA loan questions

[Elisa Sacchetti]

Hello! I am very excited to start my real estate journey with purchasing my first property soon. My goal is to purchase a property within the next 6 months. I just got my first full time job, so I am trying to save up to pay 3.5% on a duplex and use an FHA loan to finance. I understand that if I use an FHA loan, I will have to pay an upfront mortgage insurance premium (MIP) plus monthly mortgage insurance. From my research, I found that the MIP should be 1.75% of purchase price (right?), but I haven't been able to find a good number for the monthly mortgage insurance. Some places say 0.85%, but others say higher and other lower. What would be a good percent to use? I am trying to analyze properties with precise calculations of the FHA loan, but I am having a hard time analyzing a property using the rental property calculator on BP. Do I need to add an extra 0.2% on the interest rate if I use an FHA loan? Also, I am working in my first full time job, so would I even be qualified for the loan since they check the last 2 years tax returns and I worked a part time job in college (making very little). Does anyone have any advice on how I can properly analyze a property on BP with the FHA loan and any advice on how I should go about with my goal?

[Nathan Gesner]

Quote from @Elisa Sacchetti:

It can range from around 0.6% - 1.8%. The way to find out is talk to a lender.