I have been preparing to purchase my first duplex and plan to undertake an owner occupation role in one of the two units. I live with my parents and this will be my first housing purchase, and therefore will not be selling a house. I currently have enough money for 20% down on an opportunity but if I decide to take a loan with 20% down my timeframe for a future opportunity seems far in my future as much of my savings will be in this down payment. Now the question is whether or not I try and get a loan such as an FHA loan with a lower down payment so that I will have more cash on hand to save for the next opportunity? Or do I stay away from PMI insurance and put the 20% down and start saving?
Notes: I have credit in the 750 range, the duplex cost in my area is in the $250,000 range, and I have roughly $65,000 saved.
