I go here

Im a rookie to all this. Im in the process of buying my first property. I bought it about 10,000 less than market value.But since im new, i ent convential. Im putting 20percent down to avoid PMI payments. Im going for a 30 year fixed at 5.875. Standard stuff, i know i could do better, but i want this home for when i get old and retire. I plan to live in in for 1 or 2 years than rent it out once rents have gone up and it would cover my payments in full (taxes and maintanance).

The odd thing was i couldve gotten a community loan were i only had to put 3 percent down and the closing cost. The intrest rate was a high at 6.5%. But the monthly payments were just 125$ dollars more than the 30 fixed loan at 5.875. The community loan is a whole lot less down and i wonder if was the way to go, but that the inrest rate was so high. Some help please. I plan to live in the Unit for a yr or 2 than rent it out.

I know this is not creative, seeking help from the pros.

I would stick with the loan program you chose

Financing options all are dependant on your exit strategy.

I usually buy and rehab 6 properties a year. Four I purchase with my ROTH IRA and will normally sell in within 2 months after rehab is completed.
The remaing two done through the kids education IRA's. That will be down to one as my opldest starts college this fall.

I also tend to purchase using my SEP. These are longterm investment properties either commercial or 1-4 unit residential.

Unless it is a rehab property I purchase with the intent to sell I do not sell my investment properties unless it is for a 1031 exchange.