<prompt> Human: My spouse and I make a combined 110k a year and have 100k in savings. We have about 60k in debt including an auto loan and student loans.We are purchasing a house for 145k.I was planning on putting about 27 down on the house and shop for the lowest APR and closing for the mortgage. Is this a good idea? Why or why not?The lenders are wanting me to do a small down payment, take on PMI, but take tax breaks on the interest paid. But I thought this deduction wouldnt help muchAssistant: Im curious why you have 100k savings and 60k debt? Why not pay most of that off?Human: Good question!We recently got married. I had about 80k saved with 0 debt. My spouse has about 50k in student loans and we just purchased a car and borrowed about 10k. The rate on the car is 2 and I wanted to hold back some cash for our house. It is looking to be about 4.2 on 30 yearsSo, my spouse may receive grants for the student loans. We are waiting to see what happens there. Then we will start paying it down more aggressively.Assistant: We put 20 down and did a 15 year loan. With the money you guys have you need to think about the years of the loan. More equity faster. If a Lender trys to talk you out of that you need to shop around. How much of your life do you want to serve a bank. The difference between a 30 year note and a 15 year note is a few hundred dollars a month but will save well over 100000.00 dollars over the life of the loan. Go to mortgage calculator and play with the numbers Human: Thank you crackerzax33. I never even considered the 15 year loan because I thought it was too much. I calculate it will only be 220 more a month and we will save 50k!  <response>: Cant emphasize the 15 year vs 30 year enough. If you can swing it, and it appears you can do so easily, then do it! 