5% Financing

[Mark Hall]

I am looking over my options of financing. I have been focusing on FHA but the UFMIP scares me a little. I stumbled upon some reading that stated you can put 5% as a down payment, and the loan is not FHA insured. Does anyone have information on what criteria lenders are asking for in order to be approved? FYI I am in the Los Angeles area.

I currently have no debt

700+ credit score

Looking to purchase a multi-family home for around $400,000 to $350,000

I have no renters history

Thank you,