<prompt> Human: My wife and I are closing on our first home in 2 weeks. We are down the last point in which we choose a 15-year or 30-year mortgage.We have a combined 40,200 in student loans 6.18 weighted average interest rate with a minimum payment of 580.90.We have no other debt.Our choices are the following:210,000 purchase price - 199,500 loan 5 down15 year 3.375, monthly payment is 1,413.9830 year 4.080, monthly payment is 961.67We can pay PMI the following ways:Monthly: 86.45Up Front: 2,912.70 Breakeven: 34 monthsAutomatic PMI Removal Date15 year: 36 months30 year: 95 monthsMy opinion: 30 year loan with PMI paid upfront. Pay difference towards student loans.My wifes opinion: 15 year loan with PMI paid monthly. Pay minimum towards student loans.Questions15 or 30?PMI: Monthly or Upfront?Thank you.Assistant: From what youve written, you do not sound like good candidates to be buying this home. Considering you have other high interest debt a significant amount, and insufficient down payment funds to avoid PMI, this is a bad financial decision.Still, assuming youre going to go forward, sounds like you should take the longer term, and devote any excess funds to paying off student loans as quickly as possible.Human: Seller is paying closing costs and wife is real estate agent, so most fees are waived and her commission gets applied toward downpayment. Its only costing about 7k out of pocket. Keeping our cash reserves of 40k in bankinvestments since wife is pregnant and we have new costs coming up in the near future,  <response>: You have 40k worth of reserves and you are willing to pay PMI, and stretch out those student loans? Im with the others here and say you are not ready to buy this house. 