<prompt> Human: Hello All,I am considering buying my first house this year. Once I get my bonus from work in March, I should have enough for about a 10 down payment, closing costs, and moving costs, while maintaining an emergency fund. If I wait another 8 to 12 months, I could probably have enough for a 20 down payment but I would rather not wait. I have been living in a one room studio apartment for the last 4 years while paying off my student loans. Im ready to move, and quite honestly I feel as if the rental market is overpriced in my area especially when compared to the price of buying so moving to a larger apartment does not really seem to make sense. My current rent is 800 per month and Im looking at houses in the 100k to 150k range. Is there anything fundamentally wrong with the strategy of buying with about 10 down and paying extra throughout the first year to build my equity up to 20 and get out of PMI? Are there any other disadvantageous to a sub-20 down payment other than PMI and a potentially higher interest rate?Thanks!Assistant: Can I ask a quick related question. When I bought my first house several years ago, I was under the impression, and I was young and impressionable, that you paid PMI if you didnt put down 20. It was very black and white. Now, a friend told me that she just purchased a house and out down 5 and has no PMI. One of the managers I work with put zero down and pays no PMI. Now Im looking to buy a new house. I had planned on 10 down and was budgeting for PMI. Is it reasonable that I can expect to get out of PMI?Human: Im also interested in the answer to this question. I feel like PMI is the main reason I have heard for making a 20 down payment. It would be great to get out of PMI with a 10 down payment.  <response>: When we were looking for a mortgage, the no PMI mortgages with less than 20 down payment had a higher interest rate. For us, it ended up being a much better deal to pay PMI upfront we put 5 down. 