If both the cost and interest rate are comparable to a Conventional Loan, I would say it's a great program--as long as you don't mind working with a bank representative.

We done a conventional 30 year loan and at closing there was a paper I had to sign that said I must have the home as my primary residence for 1 year.

Conventional Fannie Mae HomeReady with 3% down.How did you add value to the deal?

I am unsure which loan would be cheaper/the better one to use between a FHA loan and a 5% conventional loan.

Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

As discussed, I have options to refinance your multifamily short term bridge loan into a stand alone 30 year conventional (rates start at 4.5%) or a government sponsored loan - Fannie Mae, Freddie Mac (rates start at 3%) after 1 year.Your credit line could then be reused for your next purchase..

As discussed, I have options to refinance your multifamily short term bridge loan into a stand alone 30 year conventional (rates start at 4.5%) or a government sponsored loan - Fannie Mae, Freddie Mac (rates start at 3%) after 1 year.Your credit line could then be reused for your next purchase..

Conventional loans are better.

I was wondering if anyone has bought a 6 unit home with a conventional mortgage before?

Conventional How did you add value to the deal?