Second home purchase and no PMI? (loan, interest rate, rate, loan)

[Jersey25]

I own a duplex home, I rent out one unit and live in the other. I bought the first home with an FHA 3.5% down loan. In the future, I want to rent out both units and buy a single family home. I would like to do a conventional 5% down loan with no PMI, are there any options like that? Will be bank use the old mortgage payment as debt when considering my debt/income ration (even tho it will be an investment property)?

[thelopez2]

Yes

[aneftp]

You can avoid PMI with second home.

But if you plan on putting very little down. Expect the piggy back loan (first lien) to be much higher interest rate than the second lien on the second home.