Using a hard money lender- Good or bad for multi-family deals

[Jordan D LeClaire]

I have been looking at different options for financing my first multi-family property that I plan to owner occupy. I have been considering FHA loans or using a hard money lender. What are the pros and cons of using a hard money lender for your first multi-family property?

[Jeffrey Holst]

Biggest con is that hard money lenders typically are expensive. The rate will be higher and the will want upfront points, Also they will likely want it paid in full in 12 months or so. FHA for a place you plan to live in is a much better option if you can qualify for it, IMO

I am assuming we are talking small multi like duplex-quadplex.