First House Hack Loan Options

[Nick Vogel]

Hello all! I am looking to purchase my first small multifamily property through house hacking. I am looking at two different loan options for an owner-occupied property. The first being a 3.5% down FHA loan. The second is a 5% down, 5-year ARM with no PMI. Both are 30-year loans. I am curious what loan option I should pursue? What are the pros and cons of both? I have a good understanding of both loans; I am just looking for others' input. Please let me know if you have any questions. Thank you for your input!