<prompt> Human: Hey guys. Going to try to make this brief.Age 30. Married. 2 kids. Mother is going to be living with us. Live in NJ. Expensive area, but with my trade hair stylist, I need to live in a high-end area, and the salon Im with now is highly regarded. I make good money for my trade. About 60-65k, pre-tax. My wife works part time and is at around 35k, pre-tax. So close to 100k, combined. Renting now. 1800 for a 3 bedroom, head and hot water included. Extremely cheap for the area, but its deceiving. The place is falling apart. We have mice more than normal, above a business. The floors underneath the laminate are asbestos I know, its not a big deal unless you remove them. The building is 120 years ago and we have a new landlord. Between him and the old landlord, nothing is done. I have no idea the water qualitywhat were breathing in. Its probably fine, but its unnerving. We just want to move.Comparable renting rates are 2400-2500 a month. However, they are extremely few and far between because the market is boiling hot right now. Houses are going after being listed for a few days. Interest rates and all that.With a mortgage on a 350000 house starter home here -- though we plan on staying for a long time, our mortage, including taxes, insurance, etc., would hover around 2100 a month. 2200-2300 if we go 10-15, 80-120 for PMI. any which way you look at it, its cheaper than renting. Using the Times calculater, it would be worth it to own after just 1.5 years. Its a no brainer. And I say this as someone who doesnt mind renting. Im not dead set one way or the other. But with limited options, and no desire to move town is amazing, great schools, great location, kid loves her school, etc. buying seems the right move.- 15k in emergency fund.- 5k in old 401k- 5k in Roth IRA that I just started last year. On pace to put 5,500 each, both me and my wife in this year, including rentmortage, etc.- No debt.- 800 credit scores- 265 car lease. Heres a huge caveat: I worked in the restaurant industry for a very long time. Ive saved a considerable amount of money enough for a 20 down payment on a 350k house closing fees, and have always kept cash in a fireproof box. I know its dumb. My mother is a single mom and I didnt get a ton of education when it came to finances for almost all of my life. My mother was afraid of banks first generation, her parents were awful. Its only under my own accord over the last few years that Ive smartened up. That money is mostly taxed seriously, but its over 10 years of savings. I cant proove its taxed because I dont have all the tax returns for it. Ive spoken with the bank and they were great about it. Told me to sit with them, desposit it, and deal with the red flags.Now, assuming I get through all that without getting gouged, what would you guys suggest for a down payment? Ive been thinking 15 52k, opposed to 67k, which evaporates a good amount of my money. It allows me to have closing fees and keep some cash for liquidity. I dont mind paying the PMI for a few years. It wouldnt be that much or that long. Its worth it to me to get the interest rates being offered now opposed to waiting another year or so and then being stuck with a 5 interest rate.Weve been pre-approved for 400k, but Im not spending that much. A 350k house keeps us at around 25 of our monthly take home, which is great. My wife will also be going back to work full time in 2 years once the youngest child is in school, which will bump our salary up a bit. Maybe another 10-20k. But Im not counting that. Thoughts? Thanks guys.  <response>: Your down-payment should be above the threshold that requires mortgage insurance. Go to a real reputable bank for your mortgage, not a sub-prime mortgage lender. Once youve cleared that benchmark of no mortgage insurance, what range of monthly mortgage are you comfortable paying if your spouse loses her job? 