<prompt> Human: My husband and I are looking into buying a new home, and while house shopping we came across a house that was a little over what we wanted to pay. Our gross income is 205k and the house we found is a new construction for 320k and they told us when we went to look at the model home that we could do 5 down with no PMI. Now we were pre-approved for some ridiculous amount of like 500k but we will never spend that much, cause 1 its just me and my husband, and 2 we have student loans we want to pay off in the next 5 to 7 years. Since we are looking into buying a house well within our means, is it possible to not have to pay PMI if we dont put down 20, or is that unavoidable? Were they just trying to make a sale? Assistant: There are some loans that require less than 20 and have no PMI, but they tend to just have a higher interest rate instead.Human: So would it be worth it to just pay the PMI?  <response>: You would have to run the numbers both ways and see. 