Lending Options... Which is my best option? (Logan Utah)

[Ethan Ducharme]

Hey everyone,

I received this document from a lender in Logan Utah about possible options for purchasing a place as I will be moving to Utah in August. My plan is to purchase either a single family with the idea of renting one of the rooms to help cut down my mortgage payment. (I would like to pay around $600-700 a month max for my mortgage after everything included on a single family) Or find myself a multifamily where I can house hack and live in a unit and rent the other unit/units. Multi families in Logan UT seem to be pretty hard to find.  What are your thoughts given the numbers and what route may be the best to go, as well as how that compares to other larger institutions and their loan options.

In order they are:

1)  3% down, prepaid mortgage insurance, single family.

2) 3.5% down, FHA, 1-4 unit.

3) 0% down , Utah housing NO PMI loan, single family.

4)  5% down, prepaid mortgage insurance, 2 unit.

I don't think I can come up the the 5% down but if it seems like the best viable option I may be able to squeeze it. 

See attached photos.

Thanks!