First time buyer with 80k cash budget. Portfolio loan or no?

[Ryan Austin]

Talked with local lender recommended by my broker. Preliminary chat he shared the following numbers:

30% down required

5-6% 7 year fixed then adjustable

Not sure if I should try sticking with initial plan of a portfolio loan (to diversify risk in multiple properties)

Or

Do conventional mortgage for 20% down and lower interest rate