First Time Home Purchase of a Duplex-Financing?

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Hello All,

I live in St. Louis City and I am a single female looking to buy a multi-family unit as my first time home purchase. I plan to owner occupy one of the units.

My question is—what is the best way to finance a multi-unit if I plan to purchase another multi-unit or home in another year or 2?

My mortgage lending officer told me I could put 5% down on a conventional loan on up to 4 units. (To avoid PMI the entire life of the loan.) And then I could use the 3.5% down FHA loan for the 2nd purchase as long as I owner occupy the 2nd purchase. Is this true?? Is this allowed with FHA? (Asking as I have heard some lenders will push you toward a conventional loan if I can afford it...as they get more money that way?)

I could use the 3.5% FHA loan first...but then won't getting a conventional loan on a 2nd property require a lot more down? 15-20%?

Any advise on financing is much appreciated!