<prompt> Human: I live in an area where it is ridiculously cheaper to buy than rent. The average rent is 1500month, my mortgage without taxes or PMI would be roughly 700. Id like to buy a modest 2 bedroom that needs updating, and Ill probably end up in the 150k-170k range.My issue is the down payment, as Im in my first real year of full time employment. Im not worried about moving jobsleaving the area as I can easily rent the property and I love my job. There is a literal waiting list to get a rental, and houses that should be condemned are still 800m. I had to sign on my current rental the day I saw it, because I had lost out on other properties during my search. It also took 3 months to find a place, and we had to use a realtor.Per my current savings, I should have 10k6 at the end of my lease. I know I can get a FHA loan, but the lifetime PMI is a real turn off to me. I know that you can refinance to only have PMI for 11 years, but still.I can always rent for another year and save to 20 I paid off my student loans in 5 months, which ate into the house savings. Id rather not rent again because of the insane price difference.Possibly relevant info:-Can afford mortgage or rent on my own, but enjoy having a roommate to help with costs; current roommate will be moving on at end of lease so Ill have to find someone new regardless of choice-Credit: 750-Yes, I have an emergency fund-Yes, I contribute to my company 401k 11 salarySo:1 Is it worth it to get a loan with constant PMI and just eat the difference?2 Is there a loan without PMI or an increase in int rate equal to PMI that I can get with 6 down?3 Would it be better to rent and save to 20 to avoid the issue altogether?  <response>: Comparing buying with PMI 6 and a mortgage payment of 800-ishmonth vs renting at 1500month, it looks like paying PMI of about 100month over 11 years is roughly equal to paying 700month extra in rent for two years. 