Should we do an FHA loan ?

[Luis Rodriguez]

My wife & I are looking to house hack in NYC. We don't have the 10% to go conventional. The thing that bothers us about the FHA loan is the origination fee and we would have to refinance to get out of paying PMI. I'm sure rates will be higher in a few years. We're about 30-35K short to go conventional. We dont have any debt so we'll pay more towards the mortgage every month. We think without appreciation we can get to 20% in 7 years or so.

Should we just do the FHA loan or get a loan to get the extra 30-35K ? How do I go about getting a personal loan ?