FHA vs. Coventional

[Elijah Householder]

Hello all,

Pretty new to the forum still so apologies if this is in the wrong spot. But I have a question about conventional mortgages vs FHA.

I am looking to “househack” within the next 1-2 years. I am a recent grad and saving enough to put around 10% on 2-3 unit property with a PP of around $400k-$600k (In Socal so dont have many cheaper options).

So my question is, is there any reason I should choose an FHA over conventional? I know FHA offers a 3.5% but aren't first time home buyers able to do a 3% with conventional? Plus PMI drops off unlike MIP for an FHA.

Any advice would be greatly appreciated.

Thank you!